INDU to invest Rs3bn in localizing vehicle parts

News Image

MG News | February 22, 2024 at 10:43 AM GMT+05:00

0:00

February 22, 2024 (MLN): The Board of Directors of Indus Motor Company Limited (PSX: INDU) has approved an investment of around Rs3 billion for additional localization of parts and components of various existing vehicles, the company informed through a notice sent to the local bourse today.

This is part of company's overall plan to continuously increase localization of parts and components of vehicles manufactured locally, in order to reduce outflow of foreign exchange and promote the local auto industry.

The announced investment will be made towards expenditure in plant and machinery, molds, dies, equipment, and related expenses for localization of parts and components to be manufactured locally for various existing vehicles.

The investment is planned to be completed by the third quarter of calendar year 2025.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 156,180.94
423.57M
0.51%
796.43
ALLSHR 95,690.82
1,354.89M
0.59%
557.25
KSE30 47,714.39
199.12M
0.52%
247.40
KMI30 229,722.09
134.66M
0.91%
2076.87
KMIALLSHR 64,420.07
581.33M
0.83%
532.01
BKTi 41,969.52
122.61M
0.50%
207.74
OGTi 31,991.76
10.82M
1.18%
372.62
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,230.00 117,335.00
114,960.00
1655.00
1.43%
BRENT CRUDE 68.52 68.69
67.01
1.08
1.60%
RICHARDS BAY COAL MONTHLY 84.00 0.00
0.00
-0.40
-0.47%
ROTTERDAM COAL MONTHLY 93.35 93.50
93.15
0.50
0.54%
USD RBD PALM OLEIN 1,106.50 1,106.50
1,106.50
0.00
0.00%
CRUDE OIL - WTI 64.55 64.76
62.89
1.25
1.97%
SUGAR #11 WORLD 15.88 16.10
15.82
-0.12
-0.75%

Chart of the Day


Latest News

Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg