IMC gears up for vehicles and labour exports

Amid dwindling sales and the higher influx of used cars, Indus Motor Company (IMC) will export 50 locally assembled units of the Toyota Revo, Fortuner and Toyota Corolla Cross to Scandinavian countries. Additionally, there are plans to export human resources to Japan. IMC Chief Executive Officer Ali Asghar Jamali informed the media on Wednesday that the first batch would be shipped on July 25. He expected foreign exchange earnings of $1.5 million through this shipment. IMC is exporting these units at 15-20 per cent above the cost due to high tariffs in exporting countries, he claimed. He added that IMC has also exported around 150 workers to Japan, who will earn between $2 and $2.5m. “We are targeting 100 more workers in the next 10 months which would double the earning,” he added. Jamali said assemblers of various Japanese and Chinese vehicles will incur losses, but have asked the government to further assist the local industries by initiating free trade agreements (FTA) with potential countries, especially African countries, with the consultation of industry stakeholders.