Dealers, vendors: IMC announces interest-free support package

Indus Motor Company (IMC) has announced interest-free support package for dealers and vendors.

According to details, the nationwide lock-down has severely impacted the auto sector of Pakistan especially the vendors and dealers. With stagnated revenue generation activities, they are still bearing overhead costs and expenses including salaries of staff and debt servicing.

It has been learnt that Pakistan's biggest automaker, Indus Motor Company has offered a Support Package to vendors and dealers which include short term interest free loans and other support measures.

Though the government lockdown across the country has severely impacted all economic activity for dealers and vendors alike but despite the predicament, neither has laid-off employees. In addition to overhead expenses, dealers have capital which is on hold at the moment in terms of dealer inventory and in terms of dealer orders for which full payment or partial payment has been provided.

It is encouraging as one of the biggest auto manufacturers of the country has come forward to support the dealers nationwide who are facing varying degrees of lockdown consequences.

"Indus Motor Company has announced different support packages for us so that we can cope up with the crisis due to the recent Covid-19 pandemic," said Salim Godil, CEO, Toyota Central Motors & Toyota Society Motors.

He added that one of the schemes is 'short term interest free loans' being offered to vendors and dealers in May.

Feroz Khan, CEO, Omar Jibran; vendor of IMC said, "IMC has played a pivotal role in development of local engineering base through localization in last 3 decades. This support package in such crucial times further depicts their commitment to the cause of supporting the local industry."-PR