Karachi, June 23, 2023 – Indus Motors, the leading manufacturer of Toyota cars in Pakistan, has declared a complete plant shutdown due to a shortage of raw materials.
The company cited challenges in importing raw materials and clearing consignments, primarily stemming from difficulties in opening Letters of Credit (LCs) and supply issues from certain foreign vendors.
In a communication sent to the Pakistan Stock Exchange (PSX), Indus Motors stated that the ongoing disruptions in the supply chain have made it impossible for vendors to provide the required raw materials and components for production.
As a result, the company’s inventory levels have reached a critically low point, making it unfeasible to sustain production activities. Consequently, Indus Motors has made the decision to completely shut down its production plant from June 26 to June 27, inclusive.
The temporary closure aims to address the raw material shortages and resolve the challenges faced in the supply chain. Indus Motors is actively working to secure the necessary raw materials and overcome the obstacles hindering the import process.
During the shutdown period, production activities will cease, and the company will focus on streamlining its operations and ensuring the resumption of production as soon as the raw material supply stabilizes.
Indus Motors regrets any inconvenience caused to its valued customers and stakeholders due to the temporary closure. The company remains committed to maintaining the highest standards of quality and customer satisfaction.
Customers and stakeholders are encouraged to stay updated through official channels for further announcements regarding the resumption of production activities.
