ISLAMABAD: Pakistan will start exporting mobile phones in January 2022, Commerce Adviser Razak Dawood said on Tuesday.
In a testimony before the Senate Standing Committee on Commerce chaired by Senator Zeeshan Khanzada, the adviser said a Chinese company was setting up a mobile phone manufacturing factory in Karachi.
Talking to
Dawn following the committee meeting, Mr Dawood said the production of mobile phones has already started in Pakistan. “I am now trying to convince the Chinese to start mobile phone exports from Pakistan. They [Chinese] started production last year and I had given them a target of December 2021. They have assured me that they will begin exports from January 2022 onward,” he added.
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Daily Times
July 17, 2021
Chairman China Pakistan Economic Corridor (CPEC) Authority Lt. Gen. (retd) Asim Saleem Bajwa Friday said numerous Chinese mobile phone manufacturing companies would set up their plants in Pakistan that would boost the country’s exports besides generating more jobs.
Hailing the agreement signed between Samsung with Lucky Group to produce Samsung Mobile Phones in Pakistan, the Chairman said the facility would help expand the manufacturing base in the country.
“This landmark development coupled with a number of upcoming Chinese Mobile phone manufacturing facilities in Pakistan will expand our manufacturing base, help boost exports and create more jobs,” he said in his tweet.
The production facility is anticipated to be completed by the end of December this year. Reuters/File
KARACHI: Lucky Motor Corporation (LMC) has signed an agreement with Samsung Gulf Electronics Co, FZE for producing Samsung mobile devices in Pakistan.
In a stock filing on Friday, Lucky Cement Ltd (LCL) has said that its subsidiary LMC, which is currently engaged in business of manufacturing, assembly, marketing, distribution and sales of Kia and Peugeot vehicles, has also initiated the process of seeking necessary regulatory approvals to carry on the business and in this endeavor, it has filed an application with the Pakistan Telecommunication Authority (PTA) for securing the license.
Stocks end draggy week on decent note
July 17, 2021
Stocks on Friday closed a stagnant week on a decent note, with investors mostly betting on better earnings down the road, traders said.
The benchmark KSE-100 Shares Index at Pakistan Stock Exchange (PSX) finally managed a decent gain of 206.07 points or 0.43 percent to close the day at 47,834.33 points, hitting day high and low of 47,892.20 points and 47,628.26 points respectively.
Ahsan Mehanti, analyst at Arif Habib Corp, said stocks closed bullish led by selected scrips across the board amid speculations ahead of major earning announcements due next week.
He said mid-session pressure remained on falling global crude oil prices and foreign outflows.