Indus Motor steers toward Rs1.1bn localization boost

News Image

By MG News | September 02, 2024 at 09:57 AM GMT+05:00

0:00

September 02, 2024 (MLN): The Board of Directors (BoD) of Indus Motor Company Limited (PSX: INDU) approved a further Investment of Rs1.1 billion to be made by the company for additional localization of parts and components of various existing vehicles.

This will make the total investment in the project for additional localization to Rs4.1bn.

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

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

The further investment of Rs1.1 billion is planned to be completed by the first quarter of the calendar year 2026.

This information was disseminated by the company through the local bourse.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 130,336.15
307.24M
1.67%
2136.72
ALLSHR 81,059.69
915.21M
1.59%
1272.06
KSE30 39,885.09
127.01M
1.99%
780.09
KMI30 189,485.09
133.22M
1.37%
2569.48
KMIALLSHR 54,786.13
452.18M
1.08%
584.25
BKTi 34,962.28
50.35M
4.44%
1485.60
OGTi 28,229.47
12.54M
0.95%
266.89
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,115.00 108,340.00
105,440.00
2365.00
2.24%
BRENT CRUDE 67.68 67.70
66.94
0.57
0.85%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 103.80 0.00
0.00
-3.70
-3.44%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 65.99 66.02
65.23
0.54
0.83%
SUGAR #11 WORLD 15.93 15.97
15.77
0.23
1.47%

Chart of the Day


Latest News
July 02, 2025 at 02:56 PM GMT+05:00

OMO Result: SBP injects Rs1.16tr


July 02, 2025 at 02:51 PM GMT+05:00

NEPRA approves uniform power tariff for FY26


July 02, 2025 at 02:35 PM GMT+05:00

BAPL works to resume core operations


July 02, 2025 at 01:45 PM GMT+05:00

Azgard Nine extends Muzaffargarh sale deadline



Top 5 things to watch in this week

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