Toyota Indus Motors closure in Pakistan not permanent

Karachi: Senior Pakistani journalist Faseeh Mangi on Monday dismissed the reports that created the impression that Toyota Indus Motors will close its production in the country.

He was reacting to a claim made online by Mubashir Lucmaan who said, ” Toyota Indus will close its production shortly. Inside sources told me they have no foreign exchange and State Bank said it can’t help.”

He added Toyota will have to refund all the advance money it took for cars before shutting down its operations.

Faseeh Mangi who is associated with Bloomberg rejected Lucman’s claim as misleading.

Mangi seemed to suggest that Toyota’s closure, if it happens at all, won’t be permanent.