Toyota Indus Motor Company (IMC) has once again halted production due to a shortage of parts and inventory caused by import restrictions.
According to the latest notification, the assembly plant will be closed from July 21 to August 3. The manufacturer notified the Pakistan Stock Exchange (PSX) of the development earlier today.
The notification is as follows:
Because of the non-issuance of Letters of Credit (LCs) and supply chain problems, the automaker and its suppliers continue to face difficulties in importing raw materials and gaining clearance for their shipments.
The company’s supply chain has been disrupted, with vendors unable to supply the company with basic materials and components.
This is the 6th production closure notification made by Indus Motor this year. Due to an inventory deficit, the company previously declared a complete factory closure from June 26 to June 27, June 3 to June 8, May 2 to May 3, February 1 to February 14, and then again from March 24 to March 27.
A similar issue plagues the local automobile industry, with numerous automakers reportedly walking on thin ice.
