Categories: Latest News

Toyota and Suzuki to partially shut Pakistan output

Toyota and Suzuki to partially shut Pakistan output!

The officials at both the leading car assemblers, Toyota and Suzuki, have notified that the companies plan partial plant shutdowns next month due to the unavailability of raw material amid import restrictions and exchange rate volatility.

“There will be 10 working days next month, only if the central bank allows us to open a letter of credit based on the quota they promised,” Ali Asghar Jamali, chief executive at Indus Motor Company Ltd which assembles Toyota vehicles in Pakistan, told Reuters.

On the other hand, the head of public relations for Pak Suzuki Motors, Shafiq A. Shaikh said that the “Restrictions had adversely impacted clearance of import consignments from ports.”

He added that the unavailability of materials may result in a plant shutdown in August.

“If the same situation continues, then from August 2022 we have big problems,” Shaikh said.

Related Post

According to the data of the Pakistan Automotive Manufactures Association, the sale of locally assembled cars in Pakistan surged by around 50% from July 2021 to May 2022 compared with the same period of the previous year.

While Toyota Indus Motors also announced to refund 100 percent amount and mark-up on booking cancellation.

The announcement by the country’s car assemblers has drawn the ire of Pakistani consumers.


Recent Posts

  • Latest News

Miftah Ismail tenders resignation as finance minister

Miftah Ismail has resigned as finance minister!As reported, Finance Minister Miftah Ismail has resigned from…

5 hours ago
  • Hollywood News

Leonardo DiCaprio and Gigi Hadid’s leaked photos fume Dating Rumours

Leonardo DiCaprio and Gigi Hadid's leaked photos fume Dating Rumours! Its been a while the…

6 hours ago
  • Bollywood News

Shah Rukh Khan’s bts image of Phaatan sets internet ablaze

Shah Rukh Khan's bts image of Phaatan sets internet ablaze! The Bollywood super star shared…

6 hours ago
  • Entertainment News

Netflix’s The Witcher Season 3 and ‘Blood Origin’ Spinoff Get Release Dates

Netflix's The Witcher Season 3 and Blood Origin spinoff have finally received the release dates.…

7 hours ago
  • Latest News

‘PM House data put on sale on dark web’, Fawad Chaudry

‘PM House data put on sale on dark web’, Fawad Chaudhry raises concerns over Cyber…

8 hours ago
  • Latest News

Audio Leak: An other clip purportedly of a meeting at PM House leaked online

An audio clip purportedly of a meeting at PM House has been leaked online, a…

9 hours ago