The Motor Co. Hinopak limited is the latest automaker in Pakistan who has to suspend its assembly operations due to import restrictions. The Government imposes this. This was informed to Pakistan Stock Exchange in a notice.
Hinopak is a division of Toyota Motors Corporation Japan’s subsidiary, Hino Motors Limited Japan.
The Pakistan Auto Industry relies heavily on imports and has been caught during a severe crisis. After the State Bank of Pakistan imposed restrictions on opening LCs following relentless currency devaluation.
Moreover, vehicle manufacturers including Passenger buses, trucks and car makers, Tyre and tractor manufacturers are also observing the non-production days.
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