*ISLAMABAD – The Indus Motor Company (IMC) has announced that it hasstopped taking orders after the recent decline in Pakistani rupee againstdollar.*

“IMC would like to inform the general public that we have stopped our orderbookings for a few days, due to the recent depreciation in PakistaniRupee’s value, which has resulted in substantial cost increase on accountof C&F, Government Duties and Taxes, imported components and raw materialsfor local parts,” read a notice issued by IMC.

“The company is in the process of evaluating the impact of the same. Oncethe situation stabilizes, we will resume our order bookings with theannouncement of new prices,” it added.

The announcement suggests another hike in prices, which comes just a coupleof days after the rupee plunged about seven percent against the greenbackon Tuesday, after the government said it plans to seek a bailout from theUS-based lender International Monetary Fund (IMF). The rupee has lost about26 percent of its value since December.