Waves Home Appliances restarts AC production lines

Waves Home Appliances Limited (WAVESAPP) announced on Monday that it had restarted the assembly operations of its air conditioner (AC) product range. The company announced the development in a notice to the Pakistan Stock Exchange today. “Following the imposition of country-wide import restrictions in 2022, driven by macroeconomic pressures and monetary tightening measures, the company’s working capital resources had come under pressure,” the company shared. “This had resulted in the temporary suspension of production and sale of air conditioners and a few other product lines, except for the company’s flagship deep freezers and refrigerators,” the notice informed the bourse.