Karachi: In a significant industry event on July 31, 2024, Federal Minister for Industries and Production, Rana Tanveer Hussain, lauded Toyota Indus Motor Company (IMC) for its achievements in vehicle exportation during his visit to the company’s facilities at Port Qasim Industrial Estate.

According to Ministry of Industries and Production announcement issued on 31 July 2024, the minister’s visit underscored the government’s support for major industrial players contributing to Pakistan’s economic development. Hussain praised Toyota Indus for localizing operations up to 64%, aligning with the government’s vision of fostering innovation and self-reliance in the industrial sector. He highlighted Toyota’s significant investment of 700 million USD, the production of 76,000 units, and its substantial 258 billion contribution to the national exchequer as pivotal to national development.

Hussain also commended Toyota’s efforts in reducing CO2 emissions and addressing environmental challenges through the production of hybrid vehicles, setting a precedent for the automotive industry. Mr. Kazunari Iguchi, Executive Vice President of Toyota Motor Asia, emphasized the fruitful partnership with IMC, praising the skilled workforce development that this collaboration has fostered.

CEO of IMC Toyota, Mr. Asghar Ali Jamali, expressed gratitude towards the government for its support, which has been instrumental in achieving these milestones. He reaffirmed the company’s commitment to enhancing Pakistan’s auto industry through job creation and sustainable growth.

The visit also included the inauguration of a new vehicle export unit and a ceremonial tree planting by the Minister, symbolizing the growing partnership between the government and one of its key industrial stakeholders.