As the automotive industry continues to go through one of its worst crisis, Toyota Pakistan aka Indus Motor Company (IMC) has shut down production once again, which is the second time this year with more suspensions expected in the coming weeks.
According to a letter issued to the Pakistan Stock Exchange (PSX), the company said that it will observe non-production days (NPDs) from March 24 to March 27 and continue production with single-shift schedule from March 28.
The reason behind the decision is the limited stock due to restrictions on import of raw materials. “The company and its vendors continue to face hurdles on import of raw materials and receiving clearance of their consignments from commercial banks, on account of difficulties in opening of LCs for raw materials by banks.” it stated, adding, “This has disrupted the supply chain of the company and its vendors are unable to supply raw materials and components to the company.”
This is a copy of the letter:
It is pertinent to mention that Honda Atlas Cars Pakistan Limited (HACPL) also announced that it would be shutting down production for the entire month of March 2023 due to shortage of raw materials.
Read more: Honda Shuts Down Production For The Entire Month.
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