Toyota Indus Motor Company (IMC) has once again halted production due to parts and inventory shortfall as a result of import restrictions.
According to a media report, the assembly plant will remain shut from June 26 to June 27. The automaker informed the Pakistan Stock Exchange (PSX) of the development on Friday.
Due to the non-issuance of the Letters of Credit (LCs) and supply chain hiccups, the automaker and its suppliers continue to encounter problems in the import of raw materials and receiving clearance of their shipments.
As a result, disruption in the company’s supply chain has occurred, with vendors being unable to provide the company with basic materials and components.
This is Indus Motor’s fifth production closure announcement this year. Earlier, the company announced a complete plant closure from June 3 to June 8, May 2 to May 3, February 1 to February 14, and then again from March 24 to March 27 due to inventory shortage.
The same problem persists across the local automotive industry, with several automakers reportedly on the verge of going under.