Indus Motor Company (IMC), the assemblers of Toyota cars in Pakistan, declared yet another round of non-production days (NPDs) in May 2023 due to ongoing operational issues.
The company notified the Pakistan Stock Exchange (PSX) that the automobile assembly plant would be completely shut down from May 2 to May 3, 2023 (both days) due to an inventory shortage.
The local auto sector continues to face challenges due to the difficulties in opening the LCs (Letters of Credit) and import restrictions on non-essential items imposed by the State Bank of Pakistan in order to keep the outflow of foreign exchange in check. Due to this, local assemblers which have always been vastly dependent on imported CKD parts & components are facing problems managing their supply chain. The companies are therefore forced to observe NPDs due to the lack of inventory on hand.
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