July 28, 2022 (MLN): Toyota Indus Motors Company has announced to refund 100% of the deposited amount along with a mark-up payment on booking cancellation.
The company in a statement issued on Wednesday said that it is facing unprecedented difficulties in its operations due to factors beyond the Company's control.
“Taking the economic challenges and uncertainty into consideration, customers who wish to cancel their order bookings will be refunded 100% of the deposited amount along with a mark-up payment.”
The company further stated that mark-up shall be paid from the date of receipt of payment by the Company to the date of cancellation of the order, without any deduction of administrative charges.
In light of this uncertainty, the tentative delivery timelines mentioned in the PBO for pending orders are being provisionally pushed back by at least 3 months. The price prevailing at the time of delivery shall continue to be applicable.
“We extend our sincere apologies to all the customers who are facing delays with their orders due to these unforeseen circumstances and would like to reassure our valued customers that we are working closely with the Government and the regulatory authorities to minimise the delay as much as possible,” company stated.
The statement highlighted that the unforeseen devaluation of the Pakistani Rupee, coupled with the Government restrictions, including the LC approval constraints rendering it impossible to import CKD kits without prior permission, and the continuing financial instability have led to a force majeure situation.
Due to the current conditions, IMC's production has been radically disrupted and we are unable to produce the requisite units as per full capacity, resulting in the delay in tentative delivery schedules.
“We are presently unable to foresee how long these and other external factors will persist, and cannot rule out the possibility of disruptions to manufacturing in the near future,” the company said.
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