Indus Motor Company, the company that assembles Toyota vehicles in Pakistan, has announced that it has started sending cars to other countries after making an agreement with Toyota Egypt. This is the first time a Pakistani company in the four-wheeler segment has begun exporting cars.
The CEO of the company, Ali Asghar Jamali, said that the first shipment has already been sent this month, which is a significant milestone for car exports from Pakistan. However, Jamali also mentioned that it is too early to say if this will solve all the problems faced by the struggling auto industry in the country.
The auto sector has been facing challenges due to issues with the issuance of Letters of Credit and import restrictions caused by low foreign exchange reserves.
Despite these challenges, Indus Motor Company is hopeful and sees this initial export as a small step towards potential growth in the future. The company plans to export specific parts to Egypt and hopes that other manufacturers will also gain confidence and explore opportunities for exports. This partnership with Toyota Egypt is in line with the requirements set under the Auto Industry Development and Export Policy.
