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Import restrictions force 'complete' closure of Toyota plant till Feb 14

07:22 PM | 31 Jan, 2023
Import restrictions force 'complete' closure of Toyota plant till Feb 14
Source: File Photo

KARACHI – The Indus Motors Company (IMC), the assembler and seller of Toyota-brand vehicles in Pakistan, has decided to “completely” shut down its production plant in the country from February 1-14 due to restrictions on import.

The automaker has informed the general manager of the Pakistan Stock Exchange, stating that the government had directed the commercial banks to facilitate the imports to the certain sectors, which does not include auto industry.

“The company and its vendors continue to face major hurdles in import of raw materials and receiving clearance of their consignments from commercial banks,” Geo News quoted the letter as having said.

It said the company was unable to import raw material and components for the vehicles.

“Accordingly, the company has insufficient inventory levels, therefore, the company is unable to continue its production activities,” the notice read. The plant will remain closed completely from February 1 to 14.

From Feb 15, the production will be reduced to single shift until further notice. 

Daily Pakistan Global Web Desk

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US Dollar, Euro, Pound, Dirham, Riyal Rate in Pakistan Today Open Market Rates - 13 July 2024

Pakistani rupee rates against US Dollar and other currencies on July 13, 2024 (Saturday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 279.8 for buying and 280.75 for selling. Euro's buying rate moves up to 301.25 and selling rate is 303.15.

British Pound rate is 355.15 for buying, and 358.65for selling. UAE Dirham AED was at 76.5 and Saudi Riyal lowered to 73.65.

Currency Rates Today

Source: Forex Association of Pakistan. (last update 08:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.8 280.75
Euro EUR 40.05 40.45
UK Pound Sterling GBP 355.15 358.65
U.A.E Dirham AED 76.5 77.25
Saudi Riyal SAR 73.65 74.37
Australian Dollar AUD 184.55 186.35
Bahrain Dinar BHD 741 749
Canadian Dollar CAD 203.75 205.75
China Yuan CNY 38.35 38.75
Danish Krone DKK 40.05 40.45
Hong Kong Dollar HKD 35.7 36.05
Indian Rupee INR 3.33 3.43
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 908.25 917.35
Malaysian Ringgit MYR 58.95 59.75
New Zealand Dollar NZD 169.24 171.24
Norwegians Krone NOK 26.04 26.34
Omani Riyal OMR 722.87 730.89
Qatari Riyal QAR 76.39 77.09
Singapore Dollar SGD 202 204
Swedish Korona SEK 26.5 26.8
Swiss Franc CHF 309.15 311.65
Thai Bhat THB 7.5 7.65

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