Indus Motor Company (IMC), manufacturers of Toyota cars in Pakistan is planning further investment in the country to expand its assembly/manufacturing facilities. This was stated by Chief Executive Officer (CEO) IMC, Ali Asghar Jamali during chitchat with Business Recorder in Muzaffarabad (AJK).
Jamali, however, did not disclose actual volume of investment, the company intends to make, within the next five years, saying "IMC intends to invest much, much more for expansion as they have been investing billions of rupees in Pakistan in the past". Replying to a question, he said that for the past 27 years, IMC is involved in satisfying its customers by providing vehicles that prioritize safety and quality, adding that during this journey, IMC has been able to achieve the milestone of manufacturing 750,000 vehicles last year in November 2017.
"IMC has always been involved in fulfilling its customer demand and this phase of capacity enhancement started from producing 20 vehicles a day and currently we are able to produce 240 vehicles a day. This phenomenal growth would not have been possible without technological advancement that requires huge investment", he continued. Recently, he said, IMC inaugurated its new paint shop which took $40 million in its completion. This step will further enhance the current production capacity by almost 20% and now it will be able to produce 288 vehicles a day keeping in view the market demand. With this, IMC will be able to produce 75,000 vehicles in the current year.
Answering another question, he said that the investment in the new paint shop is part of a different investment plan that IMC is continuously working on to increase the production capacity and fulfilling customer demand. Simultaneously with the capacity enhancement IMC has a special focus on localization.
He said, every day, IMC procures about 150 million parts from its supplier network from all over Pakistan. He further stated Toyota Corolla, has got the localization level of about 64%; and added that this car is equivalent to 4 star rating of NCAP, which itself speaks about the value addition that IMC has been able to achieve in the past 27 years. "The current localization helps in generating employment opportunities for millions of households in Pakistan and on the other hand reduces the import bill. IMC is committed to creating job opportunities; hence it has a network of 46 vendors and 37 technical assistance agreements with current work force of more than 3500," he maintained.
In reply to another question, Jamali said that IMC is not just focused on manufacturing vehicles, but also in building its employees' skills by providing regular training. Till today IMC has dedicated up to more than 2 million training hours to enhance the skill capacity of its employees. Corporate Social Responsibility is in the DNA of Indus Motor Company (IMC) and the company brands its CSR initiatives under the slogan "concern beyond cars." The company aims to demonstrate responsible corporate conduct throughout the entire spectrum of its activities and business operations. The major focus is on health, education, road safety and natural calamities. As per its policy, IMC allocates one percent of profit-before-tax for its annual CSR budget and has spent more than Rs 1 billion in its CSR activities since its inception.
Comments
Comments are closed.