Toyota Indus Motors Shutdowns Manufacturing Cars In Pakistan

Toyota Indus Motors Shutdowns Manufacturing cars in Pakistan

Indus Motors Company (IMC), which makes Toyota cars in Pakistan, has announced that it will close its production plant in the country from December 20 to 30.

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Pakistan's auto industry is already very reliant on imports, and it is in the middle of an exchange-rate crisis because SBP has made it harder to open Letters of Credit because the rupee keeps going down (LCs).

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During a corporate briefing, IMC officials said that the central bank's restrictions on imports and the ongoing fall of the rupee are hurting the country's auto sector.

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because the SBP was taking too long to approve the import of CKD kits and parts for passenger vehicles.

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