Karachi March 26 2023: Toyota Pakistan, Indus Motors Limited, shut its plant for four days due to insufficient inventory levels required to maintain production, according to company filing to the exchange.
Indus Motors and its vendors continue to face hurdles on import of raw materials and receiving clearance of their consignments from commercial banks, on account of difficulties in opening of LCs for raw materials by banks. This has disrupted the supply chain of the company and its vendors are unable to supply raw materials and components to the Company.
Accordingly, the company has insufficient inventory levels to maintain production, therefore the company is unable to continue its production activities.
In view of the above, the Company has decided to completely shut down its Production plant from 24th March, 2023 to 27th March, 2023 (both days inclusive).