Economic slowdown: Indus Motors Company faces the worst blow as all production plants shutdown
KARACHI - Due to the prevailing Economic slowdown across Pakistan, Indus Motors Company faces the worst blow as all production plants of the Toyota vehicles have been shutdown.
The sky rocketing prices of the vehicles have lowered the demand so company had to shutdown the plants.
As per media report, Indus Motors Company (IMC) has decided to shut down all production plants. The company had already observed eight NPDs in July and 11-12 NPD in August.
The federal excise duty (FED) of 2.5-7.5 per cent on various engine capacity cars, sky rocketing prices on account of rupee-dollar parity coupled with additional customs duty on imported parts and raw material and high interest rates had priced most of their vehicles out of the market.