ISLAMABAD – Almas Hyder, Chairman and CEO of the Engineering Development Board (EBD), revealed on Saturday that for the first time in memory, a record number of more than 50 million smart and functional mobile phones have been assembled in Pakistan in a year.
Speaking to the media in Lahore, he said that during the reporting period, 22 million smart mobile phones have been assembled, of which 99% have been sold in the markets so far, while 28 million functional mobile phones were assembled, 97% of which were purchased. He said cell phone parts worth $1.12 million were imported into Pakistan by the assemblers, according to a press release received here.
A total of 31 local and foreign mobile phone companies have obtained licenses, of which 21 are operational while the others are in the process of setting up production plants, including Nokia. He said only one foreign company imported 3.8 million mobile phones during this period, which will also establish a factory in Pakistan. Almas Hyder said locally assembled smart and best quality mobile phones equipped with ultra-model technology have restored buyer confidence in Pakistan which he added is much cheaper and more economical than mobiles assembled abroad.
He said as soon as the cell phones are assembled, they are immediately absorbed by the market which speaks of good governance and transparent policy pursued by the EDB to attract local and foreign investment in Pakistan. He said Pakistan’s engineering industry has great potential for growth and contributes significantly to national development for robust economic activities. He expressed his commitment to strengthening the engineering base by attracting foreign direct investment in this sector.
He said: “We have one of the best liberal investment regimes in the region, coupled with an abundance of natural resources and labour.” Almas Hyder said that the EDB is working to harmonize and align all standards in order to have a better and conducive business environment for all businesses in Pakistan, especially foreign investors. He said that the EDB is also making every effort to help investors realize their commitments by focusing on simplifying procedural hassles as much as possible through various initiatives.