Made in Pakistan: PTI government to launch an unprecedented economic initiative in the country
ISLAMABAD: Made in Pakistan, PTI government to launch an unprecedented economic initiative in the country.
Adviser to Prime Minister on Commerce, Textile, Industries, Production, and Investment, Razak Dawood Tuesday said Draft Mobile Device Manufacturing Policy aims to develop and promote mobile devices manufacturing industry in the country.
He said through Electronic Products Manufacturing Initiative, “We can promote ‘Made in Pakistan’ scheme for the growth in manufacturing, a Ministry of Commerce press release said.
Razak Dawood said this while chairing a meeting on Draft Mobile Device Manufacturing Policy prepared by Engineering Development Board (EDB), Ministry of Industries and Production.
The policy will attract new investment, generate employment and make Pakistan global player for electronics manufacturing, he added.
The adviser highlighted that draft policy envisages incentives for local manufacturing/assembly of mobile devices, which will expectedly shift the focus from import of mobiles in completely built units to semi-knocked down and completely knocked down condition.
He further said the proposed policy is mainly focusing on employment generation, import substitution and technology transfer.
The device collection through imports will be substituted by import of CKD kits at rationalized duty structure and enhancement of duty on CBU imports, thus making local assembly/manufacturing feasible vis a vis imports of mobile devices in CBU conditions, he said.
The adviser emphasized that the proposed policy will attract domestic and foreign direct investment in engineering sector (electronic equipment including mobile phone devices).
In this regard, he urged the domestic and foreign companies to invest in manufacturing in electronic goods in Pakistan to get high return on their investment. Special Economic Zones are providing technical and financial support through various incentives by granting tax holidays and duty exemptions on parts which are used in manufacturing of mobile phone devices and other electronic goods, he added.