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

Web Desk 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. 

Web Desk
Web Desk

Daily Pakistan Global Web Desk

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Today's currency exchange rates in Pakistan - Dollar, Euro, Pound, Riyal rates on March 19, 2023

KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on November , 2022 (day).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 282.7 285.75
Euro EUR 299.5 302.5
UK Pound Sterling GBP 341.5 345
U.A.E Dirham AED 77.25 78
Saudi Riyal SAR 75.2 76
Australian Dollar AUD 186 188.4
Bahrain Dinar BHD 753.69 761.69
Canadian Dollar CAD 204 206.2
China Yuan CNY 41.09 41.49
Danish Krone DKK 40.41 40.81
Hong Kong Dollar HKD 36.1 36.45
Indian Rupee INR 3.43 354
Japanese Yen JPY 2.06 2.11
Kuwaiti Dinar KWD 922.9 931.9
Malaysian Ringgit MYR 62.99 63.59
New Zealand Dollar NZD 174.91 176.91
Norwegians Krone NOK 26.69 26.99
Omani Riyal OMR 735.95 743.95
Qatari Riyal ‎QAR 77.37 78.07
Singapore Dollar SGD 206 208
Swedish Korona SEK 26.97 27.27
Swiss Franc CHF 304.79 307.29
Thai Bhat THB 8.24 8.39

Today's gold rates in Pakistan – 19 March 2023

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 208,200 on Sunday. The price of 10 grams of 24k gold was recorded at Rs178,500.

Likewise, 10 grams of 22k gold were being traded for Rs159,930 while a single tola of 22-karat gold was being sold at Rs 186,540.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

City Gold Silver
Lahore PKR 208,200 PKR 2,350
Karachi PKR 208,200 PKR 2,350
Islamabad PKR 208,200 PKR 2,350
Peshawar PKR 208,200 PKR 2,350
Quetta PKR 208,200 PKR 2,350
Sialkot PKR 208,200 PKR 2,350
Attock PKR 208,200 PKR 2,350
Gujranwala PKR 208,200 PKR 2,350
Jehlum PKR 208,200 PKR 2,350
Multan PKR 208,200 PKR 2,350
Bahawalpur PKR 208,200 PKR 2,350
Gujrat PKR 208,200 PKR 2,350
Nawabshah PKR 208,200 PKR 2,350
Chakwal PKR 208,200 PKR 2,350
Hyderabad PKR 208,200 PKR 2,350
Nowshehra PKR 208,200 PKR 2,350
Sargodha PKR 208,200 PKR 2,350
Faisalabad PKR 208,200 PKR 2,350
Mirpur PKR 208,200 PKR 2,350

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