Business
Toyota Indus Motors to Stop Production in Pakistan
The assembler of Toyota cars in Pakistan, Indus Motor Company (IMC), has decided to begin offering refunds to customers facing delays in deliveries. According to Asghar Ali Jamali, Chief Executive Officer at Toyota Indus Motors, “We will give customers the option to avail a refund with the full interest. In case they choose not to opt for this (refund), they will have to wait at least 3 (more) months from the delivery month given on the Provisional Booking Order Form and (also) pay the price differential due to the exchange rate situation”. The Shut Down Decision of Toyota Indus Motors is Expected to be Announced Soon Furthermore, the decision is expected to be announced soon and according to Toyota Indus Motors, it is centered on enabling customers amidst the current supply chain situation. As per previous reports on how the State Bank of Pakistan’s (SBP) extended mandate over letters of credit for ckd imports had created panic amidst the automobile market.
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