In a blow, Mobile phone companies stop operations in Pakistan
Shares
Pakistan's mobile industry has been hit by a big blow as mobile phone companies stopped operations in the country.
According to the report, the mobile companies stopped their operations in Pakistan by the reason of the non-opening of Letters of Credit (LCs).
As per details, the Chinese company Transition Techno Electronics which started mobile manufacturing under the China-Pakistan Economic Corridor (CPEC) project has stopped production in Pakistan.
The Chinese company started a joint venture with a Pakistani company and was producing around 0.3 million mobile phones per month.
The channel report said, due to the non-opening of LCs, raw material is not available so mobile manufacturing has become difficult in Pakistan.
Former Chairman Investment Board Azfar Ahsan wrote a letter to the Prime Minister to take immediate notice of the situation.
