Pakistan’s mobile industry has been hit by a big blow as mobile phonecompanies stopped operations in the country.
According to the report, the mobile companies stopped their operations inPakistan by the reason of the non-opening of Letters of Credit (LCs).
As per details, the Chinese company Transition Techno Electronics whichstarted 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 andwas producing around 0.3 million mobile phones per month.
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The channel report said, due to the non-opening of LCs, raw material is notavailable so mobile manufacturing has become difficult in Pakistan.
Former Chairman Investment Board Azfar Ahsan wrote a letter to the PrimeMinister to take immediate notice of the situation.
