Indus Motors shuts its production plant down

LAHORE: The Indus Motors Company has announced to shut its production plant down as per the federal government’s ordinance and advisery.

Through a public notice, the company also announced to revise the prices of its products and vehicle range citing international economic conditions and fluctuation in the forex index.

The notice further says new prices will not affect any full payments made, however if a customer requires a refund, they may approach the company’s Customer Approach Centre, which will process a complete refund without any penalties or deductions.

It further says the prevalent conditions worldwide have caused delays in our delivery and production schedules which are also affecting our national and international supply chains.

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“We request your patience in these testing times and assure you of our tireless efforts to ensure vehicle deliveries and service,” the notice reads.

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  1. Unfair rise in prices of their various models by Indus Motors for fleecing public. These groups led by their Rep bodies like Chamber of Commerce fraudulently pressured the government and SBP to reduce key interest rates on the ground that inflation was controlled and prices going down. The government succumbed to their illegal pressures and reduced interest rates without consulting deposit holders that is savers whose hard earned savings banks keep as trust in deposits and utilize for various profit earning including lending to borrowers. In this way these business groups substantially benefitted by reduced interest payments on funds borrowed from banks while correspondingly burdening heavily the saver deposit holders and who and not the government/SBP are real owners of rupee assets, in the form of reduced interest returns on their hard savings as deposits in banks which these groups utilize by borrowing. It goes without saying that savings are back bone of any economy and banking system and thus are always encouraged by various incentives including by substantial interest returns on their savings instead of discouraging and burdening with reduced unrealistic and unfair returns.

    Now with this substantial increase in prices by Indus Motors of its various models, their dishonesty, greed/lust for higher and higher fraudulent profits is wide open while self proving that reason advanced for claiming reduced key interest on their borrowing of controlled inflation and reduction in price level was absolutely false and against the ground realities otherwise they should not have increased prices within a week. Thus these business groups are fleecing public both savers of banks and consumer public by both hands.

    Further the government is silent spectator and not intervening is privy to fraud and complicit with these business groups in heavily fleecing the general public specially savers of banks.

    • It really is a pity. A mid class person can only feel helpless and frustrated with all that has been going on. But, for how long.. ? Gimmicks, fraud, tax burden, prices hike, weakening economy, and open loot is the order of the day. Adding insult to the injury was the lockdown due to covid-19, that the present regime; both federal and provincial recklessly invited the trouble in our land of the pure. Why didn’t anyone from the military intervene in this regard, one simply gets baffled. The common public as a consumer, subscriber, customer, etc. is the only sufferer unfortunately without being provided basic amenities as safeguarded by the Constitution of Pakistan. The so-called leaders, dishonest politicians to the core and last but not the least ruling business mafia are hand in glove to squeeze and gag the masses continuously without any morals. On account of which, the state institutions have deteriorated to an extent that is indescribable and irreparable.

      The only possible way out from all this dilemma now seems to have a presidential form of govt. in Pakistan with a robust, learned and loyal head of state whose cabinet should comprise of limited but honest & professional people. As citizens of Pakistan we have had enough of these farce regimes since the 90s, inflicting cruelty with the burden of debts and giving us just nonsensical rhetorics in the name of democracy, etc.

  2. Un fair increase MENT in Toyota car prices will aftect the decrease the Toyota sale in this financial crunch due to Corona virus 92. I request to indus motor start directly sale on instalment system. No bank financing. Instalment system can be introduced by indus Motor, to make good sale permotion of new models. Because New modules introduced in Corona time. Change of sale policies will make better sale progress.

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