[Auto] IMC announces support package for vendors in Pakistan

[Mark-x]

Indus Motor Company (IMC) in a recent memo announced that they will be giving out a short-term interest-free emergency loan to the vendors so that they can have a bit of liquidity in the lockdown period. According to the memo, the loans will be from May 2020.The Covid- 19 has disrupted the lives of people around the world even those living in the most stable countries. Pakistan as a developing country has to put in double the effort to support the economy

 

Among all industries in Pakistan, the auto industry has been hit hard. However, the assemblers have come forward and lent a hand to the vendors. IMC said that they consider the Vendors a part of their family and understand the hard times they might be facing.

 

Speaking to Automark Magazine editor, about this recent announcement Mashood Khan, the ex-chairman of PAAPAM; Director of Mehran Enterprise (parts manufacturer) & vendor of IMC; said “We highly appreciate the financial support given to the vendors. Indeed we face an acute financial crunch which will hopefully be resolved by this step of management.”He also said that the vendors also tried conveying their issues to the government to get some sort of relief but their woes were dismissed and unanswered.

 

Lastly, he said “We hope other OEM including Chinese OEM assemblers will take the same step to support the vendors and urged the vendors to not exploit the offer rather respects it.”HOH under the leadership of late Mr Ali Habib has always looked after it’s suppliers and vendors as a family. It is nice to see that the legacy continues. Another vendor says