Again Toyota Indus Motor Company temporarily suspended its production due to deficiency of inventory, reported News on Thursday.
In a notice sent to Pakistan Stock Exchange, the Toyota Company has cited that the State Bank of Pakistan’s (SBP) amplified oversight of the import of completely-knocked-down (CKD) as the main reason for its halt in production.
The company cited that the quantity has depleted their inventory levels to levels inadequate to maintain production. The company has therefore decided to halt production from September 1 to September 16.
The company had formerly suspended production from 1st-13th August 2022 on account of alike reasons.
The decision was in line with many other companies in the industry as Pak Suzuki Motor Company (PSMC) has stopped productions three times throughout August from 18th-19th August, 22nd-26th August, and from 29th-31st August.
The car companies suspended the bookings and observed production cuts in the face of non-issuance of letters of credits (LCs). State Bank of Pakistan paused to issue LCs for CKD kits which in turn suspended local assembly of cars.