Page 72 - SAMENA Trends - May-June 2022

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

Over 46 Million Mobile Phones Assembled in 11 Months in Pakistan

Chairman, Engineering Development Board (EBD) Almas Hyder operational while remaining are in process of setting up plants for
disclosed that a record number of 46 million smart and feature production including Nokia. Almas said only one foreign company
mobile phones were assembled in Pakistan in 11 month of current imported 3.8 million feature phones during this period which is
fiscal year. He said during the period under review, 20 millions also now going to establish plant in Pakistan. Almas Hyder said
smart mobile phones were assembled of which 99 percent so the best quality locally assembled smart and feature mobile
far sold in markets while 26 million feature mobile phones were phones equipped with ultra modern technology has restored the
pieced together of which 97 percent were purchased, said a press confidence of buyers in Pakistan which he added is much cheaper
release. He said mobile phone parts valued $1.9b were imported to and most economical than foreign assembled mobiles. He said
Pakistan by the assemblers. He said a total of 31 local and foreign the moments mobile phones are assembled and immediately
mobile phone companies were awarded licenses of which 21 are absorbed in the market which speaks of good governance and
transparent policy being pursued by the EDB for luring local and
foreign investment in Pakistan. He said Pakistan engineering
industry has a large potential to grow and contribute a significant
role towards national development for robust economic activities.
He said he is fully committed to strengthen 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 plenty of natural resources and manpower. The EDB is
endeavoring to harmonize and align all standards to have a better
and favorable business environment for all businesses in Pakistan
especially foreign investors. The EDB is also making all out efforts
to facilitate investors to materialize their commitments into reality
with a focus to simplify the procedural hassle to maximum extent
through various initiatives, he concluded.

Pakistan’s IT Exports Likely to Surpass US$3 Billion This Year

Pakistan’s Information Technology exports are expected to in the country but also towards an accelerated economy. These
surpass $3 billion target during the current financial year due to the National Incubation Centers were the platform and Ministry
congenial investment atmosphere provided by the government. was the facilitator. “The newly established incubation centres of
“In the first nine months, ICT exports’ remittances, including Hyderabad and Faisalabad would help people to expand and tap
Telecommunication, Computer and Information Services for the into the potential of Sindh and Punjab, we wish to provide the youth
period July 2021 to March 2022 have surged to US$ 1.948 billion of a forum to bring your ideas into reality” he added.
at a growth rate of 29.26 % in comparison to the US $ 1.507 billion
during the same period of FY 2020-21,” said an official of the
ministry of IT and Telecom. In March 2022, he said the ICT export
remittances were the US $259 million at a growth rate of 23.92%
as compared to US$ 209 million reported for the month of March
2021. The official stated further that the net exports for the period
July 2021 to March 2022 during FY2021-22 are US$ 1.472 billion,
which was 75.56% of US$ 1.948 billion in exports. Last year, he said
that for the same period the net exports were US$ 1.126 billion,
which was 74.72% of US$ 1.507 billion in exports. To a question
he said, the investments of Pakistani start-ups grew by almost five
times as compared to 2020 and MOITT through Ignite has been
providing both local and international networking platforms to the
country‘s start-ups to pitch their business ideas and products to
potential customers and investors. National Incubation Centers
(NIC) in Islamabad, Lahore, Peshawar, Karachi and Quetta have
not only facilitated many youngsters to work and build on ideas
which promote and encourage the investment infrastructure

72 MAY-JUNE 2022