Pakistan Crisis: Standing on the verge of bankruptcy, the problems of Pakistan are increasing. On the one hand, there has been some relief with the help of a loan of about $ 1 billion from China, on the other hand, a new crisis seems to be getting ready. In the last few days, 2 big foreign companies have announced to wrap up their business from Pakistan.
These claims are being made about Toyota
The latest case is of the vehicle company Toyota. According to a report in Business Today, after Britain’s oil and gas company Shell, Japan’s vehicle company Toyota is preparing to close business in Pakistan. According to the report, journalist Safar Khan from Balochistan says that Toyota Indus Motors is about to permanently close its plant in Pakistan and will exit the Pakistan market forever.
Production was stopped this month
Indus Motors manufactures Toyota vehicles in Pakistan. However, nothing has been officially said about this from Toyota or Indus Motors yet. Earlier, Toyota Inders Motors had stopped production earlier this month. The company had stopped production due to problems in the supply chain. The company then also informed the general manager of the Pakistan Stock Exchange about this.
Shell has also made such an announcement
If these reports turn out to be true, then Toyota will not be the first foreign company to do so. Earlier, British oil and gas company Shell has announced to sell its business in Pakistan. Shell, a multinational petroleum company, has told this month that it has decided to exit the Pakistan market. Shell says that it had incurred huge losses last year due to exchange rate, fall of Pakistani rupee and arrears etc.
Shell business in Pakistan
Shell operates one of the largest network of petrol pumps in Pakistan. The British company Shell runs a business in the neighboring country by the name of Pakistan and Shell has 77 per cent stake in it. In such a situation, these petrol pumps can be closed due to Shell’s exit. Apart from this, Shell Pakistan also has 26 per cent stake in Pak Arab Pipeline Company and efforts are on to sell it as well.
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