Due to a shortage of inventory and parts brought on by import restrictions, Toyota Indus Motor Company (IMC) has once again stopped production. The assembly plant will be closed from June 26 to June 27, according to a report. On Friday, the automaker reported the development to the Pakistan Stock Exchange (PSX).
The automaker and its suppliers continue to experience issues with the import of raw materials and receiving clearance for their shipments as a result of supply chain hiccups and the non-issuance of Letters of Credit (LCs).
As a result, the company’s supply chain has been disrupted, and vendors are no longer able to give the company essential materials and components.
This is the fifth announcement of a production shutdown by Indus Motor this year. Due to an inventory shortage, the company had previously announced closing the entire plant from June 3 to June 8, May 2 to May 3, and again from March 24 to March 27.
The local automotive industry continues to face the same issue, and several automakers are reportedly on the verge of bankruptcy.