Indus Motor Company (IMC), Pakistan’s Toyota vehicle manufacturer.
Will export 50 locally assembled Toyota Revo, Fortuner, and Corolla Cross cars to Scandinavian countries (Denmark, Sweden, and Norway).
Ali Asghar Jamali, CEO of Toyota Pakistan, revealed this during a media briefing. He also discussed plans to export human resources to Japan.
They expect to earn $1.5 million in foreign exchange from this shipment. Jamali also stated that these vehicles are priced 15-20% higher than cost due to high tariffs in export markets.
Furthermore, according to the CEO, the company has exported 150 workers to Japan, with earnings expected to range between $2 million and $2.5 million.
“We are targeting 100 more workers in the next 10 months which would double the earnings,” he added.
He emphasised the losses that Japanese and Chinese car manufacturers are expected to face.
Free Trade Agreements
He stated that the industry has urged the government to help local businesses by bargaining free trade agreements (FTAs) with possible countries, particularly in Africa, in collaboration with industry stakeholders.
Jamali stated the importance of government support, a favourable business environment, and stable policies in increasing export potential by localising raw material production and achieving economies of scale.
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