Top EDB Officials Visit Airlink Communication Facility in Lahore
The Chairman Airlink Communication Ltd., Aslam Hayat Piracha, and its CEO, Muzzaffar Hayat Piracha, welcomed the Chairman of the Engineering Development Board (EDB), Almas Hyder, and the EDB General Manager, Asim Ayaz, at Airlink’s assembly line facility in Lahore.
The visit was intended to observe the trial production of mobile phones at Airlink’s state-of-the-art assembly line. The company has been a strong proponent of investments in Pakistan and has heavily invested in the local industry with a production capacity of 500,000 to 800,000 units per month.
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The facility in concern here is expected to provide employment opportunities to more than 1,500 skilled and non-skilled workers.
A Long Road to a Faster Lane?
Zeenat Chaudhary on how the automotive industry will fare in these uncertain times.
Ever since Karl Benz invented the world’s first motor car in 1886 – the Benz Patent-Motorwagen – the automotive industry has come a long way. From hi-tech Hondas and Chryslers to electric Teslas and Nios, the global industry contributes roughly three percent to all GDP output. Due to the pandemic, however, worldwide car sales have taken a hit and are expected to fall from $74.9 million in 2019 to under $62 million in 2020, according to Statista.
Industry Overview
In Pakistan, the automotive industry, which contributes 2.8% to the country’s GDP (source: Invest Pakistan), has faced a cycle of booms and busts since the 2000s. In fact, the auto industry was on a downward trend before Covid-19 struck, primarily due to rising taxes (Federal Excise Duty increased from 2.5% to 7.5% and Additional Customs Duty by seven percent) and the rupee’s depreciation against th
All the independent directors are new faces on the board whose number has been reduced from six to five. AFP/File
ISLAMABAD: The government on Thursday reconstituted the board of directors of the National Transmission & Despatch Company (NTDC) under the chairmanship of former managing director of K-Electric Naveed Ismail.
According to a notification issued by the Power Division, seven out of 11 members of the existing board have been replaced. All the independent directors are new faces on the board whose number has been reduced from six to five.
They include Ali Zain Banatwala (a Karachi-based system optimisation and smart grids expert), Nauman K. Hyder (former HBL president), Almas Hyder (a Lahore-based businessman) and Haroon Jan Baraylay (a managing partner at FGE Ebrahim Hosain).
LAHORE: Pakistan Business Council and Engineering Development Board have signed a Memorandum of Understanding to jointly work for the development of engineering goods and services sectors, a.
EDB chief calls for raising engineering goods export
Says this industry can boost Pakistan’s export revenue by $5 billion
LAHORE:
Pakistan can boost its export revenue by $5 billion in the coming years as the global engineering sector presents a huge opportunity for the country, said Engineering Development Board (EDB) Chairman Almas Hyder.
He made the remarks at a ceremony held for signing a memorandum of understanding (MoU) between the Pakistan Business Council (PBC) and the EDB on Tuesday. The MoU is aimed at developing Pakistan’s engineering goods and services sector.
“Currently, Pakistan only taps 0.04% of the approximately $9 trillion global engineering goods’ export segment,” he said.