- Indus Motor Company (IMC) plans to export 50 locally assembled Toyota vehicles to Europe.
- Toyota Pakistan's CEO, Ali Asghar Jamali, announced the export plans during a media briefing.
- The export is expected to generate $1.5 million in foreign exchange.
This significant development was unveiled by Ali Asghar Jamali, the CEO of Toyota Pakistan, during a media briefing. Jamali also disclosed intentions to export human resources to Japan, marking a strategic move to expand Toyota's global footprint.
The anticipated foreign exchange earnings from this shipment are expected to reach $1.5 million. Jamali highlighted that these vehicles are priced 15-20 percent higher than their production costs due to the substantial tariffs prevailing in export markets.
Furthermore, in a bid to strengthen its global presence and earnings, the company has already exported 150 workers to Japan, with estimated earnings ranging from $2 million to $2.5 million. "We are targeting an additional 100 workers in the next 10 months, which would double our earnings," Jamali added.
Acknowledging the challenges faced by Japanese and Chinese car assemblers, Jamali emphasized the crucial role of government support. He urged for the negotiation of free trade agreements (FTAs) with potential countries, particularly in Africa, in consultation with industry stakeholders to alleviate industry losses.
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Jamali stressed the importance of a conducive business environment, stable policies, and government assistance to enhance export potential. He emphasized the significance of localizing raw material production and achieving economies of scale to bolster the country's automotive exports.
