Pakistan’s biggest carmaker Indus Motor Company Monday wrote a letter tothe Pakistan Stock Exchange (PSE) announcing the shutting down of theproduction plant for 11 days due to a shortage of parts and raw materials.
Toyota and Daihatsu manufacturers wrote a letter to the Stock Exchangestating that the non-availability of foreign exchange has caused majorissues for the plant to sustain production activities.
Moreover, the State Bank’s newly introduced mechanism for obtainingapproval prior to the import of raw materials and car parts has majorlyaffected the motorcar sector.
The delay caused by the time taken for approval created hurdles for thecompany and its vendors while importing car parts and raw materials andthen clearance of the consignments.
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The letter stated that the abovementioned issues impacted the supply chainand the production adversely and the manufacturers are unable to continueproduction for 11 days from the 20th till the 30th of December, 2022.
