Automotive giant Toyota has announced short-term interest-free emergency loans to all vendors.
The coronavirus outbreak has negatively impacted every business in the country, and Pakistan’s auto industry is no different from an industry-wide shutdown. Automotive vendors have been sorely lacking in financial support. Therefore, Toyota’s recent decision to support them is a highly commendable move.
The automotive company has decided to provide short-term interest-free loans to vendors in order to provide them to have a semblance of liquidity in this lockdown period; these loans will be available from May 2020.
Mashood Khan, Director of Mehran Enterprise and Indus Motor Company vendor,” We hope other OEM including Chinese OEM assemblers will take the same step to support the vendors and urged the vendors to not exploit the offer rather respects it.”
