Indus Motor announces Rs3bn localisation initiative

KARACHI: The board of directors of Indus Motor Company (IMC) has approved an investment of around Rs3 billion for additional localisation of parts and components of various existing vehicles. The investment is planned to be completed by the third quarter of 2025, the company said in a stock filing on Thursday. The fresh investment is part of the company’s overall plan to continuously increase the localisation of parts and components of vehicles manufactured locally to reduce the outflow of foreign exchange and promote the local industry. The announced investment will be made towards expenditure in plant and machinery, moulds, dies, equipment and related expenses for localisation of parts and components to be manufactured locally for various existing vehicles.