Karachi July 27 2022: Indus Motor Company clarifies that as of today, there are no plans fixed for complete plant shutdown for more than two weeks in the month of August 2022, according to company filing to the exchange.
The production schedule of the Company and any Non-production days remain contingent on a number of external and variable factors. The Company is actively monitoring its production and operations, and is closely working with the Government and SBP to alleviate the present challenges.
Indus Motor Company Limited acknowledges that the auto-sector is facing unprecedented difficulties in its operations due to ongoing economic challenges and factors beyond the control of automobile manufacturers. The unprecedented devaluation of Pakistan Rupee, coupled with restrictions imposed by State Bank of Pakistan (SBP) regarding prior LC approval for CKD imports and continuing financial instability has radically impacted the auto industry.
