Once again, Toyota Indus Motor Company (IMC) finds itself grappling with production setbacks, leading to a temporary suspension of operations due to import restrictions causing shortages in parts and inventory.
According to reports from various media outlets, the assembly plant will remain closed from June 26 to June 27.
On Friday, the automaker officially informed the Pakistan Stock Exchange (PSX) about this recent development.
Challenges For Toyota:
The challenges arise from the non-issuance of Letters of Credit (LCs) and complications within the supply chain, creating hurdles in importing crucial raw materials and obtaining necessary shipment clearances.
As a result, disruptions have reverberated throughout the company’s supply chain, rendering vendors unable to provide the essential materials and components required.
Remarkably, this marks the fifth occasion this year that Indus Motor has been compelled to announce a temporary halt in production. Previously, the company had experienced plant closures from June 3 to June 8, May 2 to May 3, February 1 to February 14, and again from March 24 to March 27, all attributed to shortages in inventory.
Regrettably, similar challenges persist across the local automotive industry, with reports indicating that several automakers teeter on the brink of substantial difficulties.