Is Indus Motors Preparing to Export Vehicles and Labors?
Saad khan 
Islamabad: Amidst declining sales and a surge in used car imports, Indus Motor Company (IMC) announces plans to export 50 locally assembled Toyota Revo, Fortuner, and Toyota Corolla Cross units to Scandinavian countries. Additionally, IMC intends to export human resources to Japan.
CEO Ali Asghar Jamali revealed that the first batch of exports is scheduled for July 25, with an expected foreign exchange earning of $1.5 million. IMC is selling these units at a 15-20% premium due to high tariffs in export destinations.
In parallel, around 150 workers have been exported to Japan, projected to earn between $2 and $2.5 million. IMC aims to double this figure by adding 100 more workers over the next 10 months.
Jamali highlighted the need for government support, including free trade agreements (FTAs) with potential countries and localization of raw materials, to enhance export potential and ensure industry sustainability.
Toyota Motor Corporation Japan commended the efficiency of Pakistani workers, acknowledging them as the best in the Asia Pacific region.
In a recent meeting, Prime Minister Shehbaz Sharif pledged support for the local industry. Manufacturers aim to increase part localization but urge further government assistance in establishing small/medium industries for raw material supply.
They advocate for measures to curb excessive used car imports, proposing increased duties and taxes in the upcoming budget to regulate imports and benefit the local auto industry.
Used car imports soared to 30,679 units in 10MFY24 from 4,701 units in the same period last fiscal year.
