Elahi Cotton, IMC suspend production

Indus Motor Company (IMC), the assembler of Toyota vehicles, on Monday announced a month-long plant closure.

In a stock filing, the IMC said that based on the current level of inventory of manufactured vehicles and parts shortages due to supply chain challenges, the company has decided to keep its production plant shut for a month starting from Oct 17.

Meanwhile, Elahi Cotton Mills Ltd, in a stock filing, said that due to severe recession in local and international markets regarding demand and rate of polyester and yarn, the board of directors of the company has decided to suspend production activities for 10 days effective from Oct 16.