Samsung Mobile to start mobile manufacturing: Khusro

M/s Samsung Mobile is going to start local manufacturing shortly, said the industries minister.

Mobile Device Manufacturing Policy

Industries minister Khusro Bakhtiar said in a press conference that mobile device manufacturing policy had resulted in a local production of mobile phones.

From January to July 2021, domestic production was 12.27 million which included 5,500 exports. The country imported 8.29 million mobiles.

Samsung Mobile was going to set up a manufacturing facility in Pakistan with local partners. The work on the facility was going on. According to the minister, Samsung Mobile will start mobile manufacturing shortly in Pakistan.

The cement and steel sectors have shown strong growth in sales due to the boom in the real estate sector as a result of the Prime Minister’s Construction Relief package.

The government will now focus on the expansion of production capacity in these sectors to meet expanding requirements.

The government is also setting up industrial parks across the country to boost industrial activities in the country.

Most notable among them is Karachi Industrial Park on 1500 acres of PSM land which will cost around Rs. 7 Billion, minister for Industries Khusro Bakhtiar said in a press conference here.

He said that the project would further augment the mercantile potential of Karachi. The outbreak of Covid-19 triggered a widespread global economic shutdown. It also hit hard Pakistan’s manufacturing sector.

However, LSM grew by 15% due to prudent policies of the government, including industrial support packages.

The government had also announced relief and incentives to export-oriented industries, and duty exemption under China-Pak Free Trade Agreement-II. It also included electricity and gas subsidies.

He said that packages would result in boosting the LSM sector further through maximum utilization of installed capacity.

It will accelerate the enhancement of capacity to increase the productive capacity of the economy and benefit millions of businesses all along the supply chain. This will maximize economic potential and generate income and employment.

Auto policy

During 2020-21, automakers sold 236,664 automobiles. He said that Production in 2021-22 will cross 300,000 and will reach 500,000 by 2025.

SME policy

He said that the government focusing on SME Policy would promote and develop the allied sectors of LSM. Government has also simplified regulatory and tax regimes. It has also given incentives to the SME sector.

Financing without collateral will also be provided to benefit millions of businesses.