Due to a shortage of raw materials and components caused by restrictions on the import of Completely Knocked Down (CKD) kits, Indus Motor Company (IMC), the assemblers of Toyota cars in Pakistan, has announced the closure of its production plant and the observance of 11 Non-Production Days (NDPs).
Indus Motor Company Limited (IMC), Pakistan’s leading car manufacturing company, has decided to temporarily shut down its production plant from December 20-30 due to severe difficulties in importing raw materials for its cars. Its vehicle production would be halted for the aforementioned time period.
The company stated in a letter to the Pakistan Stock Exchange (PSX) that the new mechanism introduced by the State Bank of Pakistan (SBP) requires prior approval for the import of CKD kits and components for the production of passenger cars, which creates challenges for the company.
This has resulted in insufficient inventory levels, which has had a negative impact on the supply chain and production activities.
As a result, the company is unable to continue operations.
As a result, IMC has decided to completely shut down its production plant from December 20th to December 30th, 2022. (both days included).
This means the Toyota plant in Pakistan will be closed for an additional 11 days. The shutdown will almost certainly cause further delays in vehicle deliveries to customers.
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