Indus Motor Company temporarily shuts operations

Indus Motor Company (IMC), the assembler of Toyota vehicles, has announced that production operations will be temporarily suspended from Sept 26 to 30 due to parts shortage. In a stock filing on Wednesday, the company said it is currently experiencing low levels of raw materials and component inventory, besides facing ongoing supply chain challenges. This has resulted in a shortage of parts and components necessary for vehicle production. The company added that it is unable to meet its production requirements. IMC also closed its plant from Aug 6 to 8 for the same reasons. Siemens plans job cuts OGDCL finds gas Security Papers profit surges