Talking to media in Lahore, he said during the period under review, 22 millions smart mobile phones were assembled of which 99 percent sold so far in markets while 28 million feature mobile phones were pieced together of which 97 percent were purchased. He said mobile phone parts valued $1.12m were imported to Pakistan by the assemblers, according to a press release received here.
A total of 31 local and foreign mobile phone companies were awarded licenses of which 21 are operational while remaining are in process of setting up plants for production including Nokia. He said only one foreign company imported 3.8 million feature phones during this period which is also now going to establish plant in Pakistan. Almas Hyder said the best quality locally assembled smart and feature mobile phones equipped with ultra model technology has restored the confidence of buyers in Pakistan which he added is much cheaper and most economical than foreign assembled mobiles.
He said the moments mobile phones are assembled, they immediately 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 expressed his commitment to strengthen engineering base by attracting foreign direct investment in this sector.
He said: “We have one of the best liberal investment regime in the region coupled with plenty of natural resources and manpower”. Almas Hyder said 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. He said 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.