Owing to the continuing LC restrictions imposed by the State Bank of Pakistan and the consequent shutdown of its plant at Port Qasim, Karachi.
Indus Motor Company (IMC) vows that it will not lay off its workforce.
IMC has resumed production to 50% capacity from October 1 after closure over the last 15 days of September.
“Pakistan is at a crossroads both economically and at the political front. The State Bank of Pakistan’s LC restrictions which continue unabated has adversely affected our operations, halting production intermittently, for the sixth month running now.” remarked the company’s Chief Executive, Ali Asghar Jamali.
“Our human resource is our most valuable asset and our biggest strength by far. As we have always done in the past, guarding their welfare during any rough patch is our moral obligation as it is now.
