There is no end to troubles for Toyota Indus Motor Company (IMC) as the company may have to stop production again.
A recent notice suggests that the company will suspend its production and assembly operations from September 1-14, 2022 due to a new mechanism that requires CKD import approval from the State Bank of Pakistan (SBP).
The company states that this has created hurdles in importing knockdown kits, causing inventory problems for them.
The notification reads:
Due to insufficient inventory levels to maintain production, the company has decided to temporarily halt its production activities. In the light of above, the company has decided to temporarily shut down its production from 1st September 2022 to 16th September 2022. However, in case of any change in production plan due to approvals being sought, the same will be communicated accordingly.
According to previous reports, SBP delayed the LC approval for CKD imports, which caused production and delivery delays. These issues caused Toyota IMC, and several other automakers to observe non-production days (NPDs) to adjust as per the ongoing situation.
The new steps from the SBP have wreaked havoc on the local car industry as multiple automakers are observing production halts to cope with the ongoing economic and administrative hurdles.
It bears mentioning that several other car companies have resumed bookings for their cars, which may place Toyota IMC’s spot as one of the top sellers in Pakistan in question.