Islamabad, 3 February 2023 (GNP): The manufacturer of Toyota automobiles, Indus Motor Company (IMC), has decided to shut down all operations at its Pakistani manufacturing facility from February 1 through February 14 due to an inventory shortage.
The company’s management issued a notice to Pakistan Stock Exchange in which it stated:
“The company and its vendors continue to face major hurdles in import of raw materials and receiving clearance of their consignments from commercial banks. These deterrents have disrupted the entire supply chain and the vendors were unable to supply raw materials and components to the company. Accordingly, the company has insufficient inventory levels, therefore, the company is unable to continue its production activities.”
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Toyota declared that it would shut down entirely from February 1 through February 14. Furthermore, the business has made the decision to begin manufacturing on a ‘single shift’ basis beginning on February 15 and continuing until further notice.