Abdul Razak Dawood, Advisor to the Prime Minister on Commerce and Investment, has directed mobile phone manufacturers and assemblers to achieve an export target of $1 billion in the current fiscal year.
The adviser informed the participants of a meeting with representatives of the Pakistan Mobile Phone Manufacturers Association (PMPMA) as well as other leading manufacturers and assemblers of mobile phones about the incentives provided by the government to local mobile manufacturers and assemblers through to the Mobile Device Manufacturing Policy, 2020.
It has also been underlined that further incentives have been provided to the mobile industry in order to encourage localization and the creation of much-needed job opportunities.
Dawood emphasized the importance placed by the government on the development of the “Made in Pakistan” industry as a driver of economic progress. A tariff differential between completely built-up units (CBUs) and completely knocked-down (CKD) and semi-knocked-down (SKD) kits has been established in order to accomplish this goal.
The adviser emphasized the benefits provided to exporters under the Export Facilitation Scheme (EFS) until 2021, as well as the importance of increasing production capacity in order to build exportable surpluses.
It is important for the corporations to discuss their investment plans so that any procedural difficulties may be resolved immediately if they arise.
Do you have something to say to the story? Please share it in the comments section below.