The management of Engineering Development Board (EDB) endorsed the submission of mobile device manufacturing policy to the Ministry of Industries and Production.
Chairman EDB Almas Hyder agreed the mobile manufacturing policy while chairing a meeting of the board management. The policy has been drafted, after consultation with number of stakeholder for encouraging local manufacturers in the sector through technology acquisition and localization.
The proposed policy is expected to support local investments and foreign direct investment. Local device manufacturing activity is projected to generate 200,000 direct and indirect jobs in the country alongside the development of efficient manufacturing eco-system and linking Pakistan to the global supply chain.
It is important to mention that Pakistan is the seventh largest market for mobile sets with annual sales of 34 million sets in 2019. With an increasing demand and competitive advantage of labour cost, it can develop into a major industry capable to generate an export surplus to sell its brand of ‘Made in Pakistan’ in the international markets.
The board gave emphasis on the need of having a favorable incentive regime for promoting local investments and attracts FDI. A comprehensive plan for participation of the engineering sector in international trade fairs/exhibitions were also presented in the meeting. The members appreciated efforts made by EDB’s management to promote engineering sector of Pakistan. The chairman advised to arrange trade delegations to various Free Trade Zones of Africa to tap the huge export potential in this region.