The ongoing economic tribulations in Pakistan have prompted carmakers to cut production. Although there are no official updates, market reports suggest that automakers have also laid off a vast number of employees due to a compromised operational capacity.
Toyota Indus Motor Company (IMC) had also been caught in this whirlwind of rumors. To clear the air, the company has issued a notice, assuring the public and its own workforce that it will not lay off its employees in these trying times.
In a recent notification, Toyota IMC announced that it will suspend its production and assembly operations from December 20-30, 2022 due to the State Bank of Pakistan’s (SBP) restriction on automotive imports.
The company stated that the restriction has created hurdles in importing knockdown kits, causing inventory problems for them.
The notification reads:
The delay in the aforesaid approvals for the company and its vendors, has created hurdles in the import and clearance of consignments for raw materials and components of the company. This has resulted in insufficient inventory levels and consequently have created an adverse impact on the supply chain and production activities.
The import restrictions have plagued the car industry as a whole, forcing most automakers to cut costs. While Toyota IMC has also cut down its operations to manage the costs, it has made a wise decision of not doing so at the expense of its workers.
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WOW! Talk about the guilty setting themselves up as the heros.
Excellent ! as an Employer it is good to care your employees. However, why the most successful and the oldest automobile manufacturer in the country still relies on imports ? Simply start manufacturing all components within country and reduce the cost of final product to support the economy.