Indus Motor Company Limited, the company responsible for assembling Toyota vehicles in the nation, has made the decision to temporarily shut down its production facility until October 9, 2023.
In an announcement to the Pakistan Stock Exchange (PSX), the company has stated that due to the existing inventory levels of manufactured vehicles, it has opted to halt production at its plant from September 28, 2023, through October 9, 2023, inclusive of both dates.
Earlier, the company had temporarily ceased operations at its production plant from August 25, 2023, to September 6, 2023, citing low demand and inventory levels as the driving factors behind the decision.
Furthermore, the company had also halted production at its plant from July 21, 2023, to August 3, 2023. During that period, the company attributed the shutdown to ongoing challenges related to the import of raw materials and clearance of consignments. These challenges stemmed from issues with opening Letters of Credit (LCs) and supply problems with certain foreign vendors. This disruption had a cascading effect on the company’s supply chain, leading to insufficient inventory levels to sustain production.
Likewise, under similar circumstances, the company had suspended production from June 26, 2023, to June 27, 2023.
