Mobile, auto exports seen fetching billions of dollars
August 3, 2021
ISLAMABAD: The upcoming mobile phone manufacturing plants and expansion in the auto sector could fetch Pakistan billions of dollars in exports over the medium term.
It was stated by Chairman Board of Management of Engineering Development Board (EDB) and businessman Almas Hyder during a meeting with Prime Minister Imran Khan on Monday. The meeting was held to discuss ways to diversify exports.
“Engineering goods trade is the largest export sector in the world. It is 54 percent of the global trade which is equivalent to nearly $9 trillion,” Hyder said. “Pakistan is now in the phase of transforming. Engineering sector includes everything from steel bars to automobiles and from medical devices and surgical instruments to mobile phones.”
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Auto market seen doubling in next 5 years
July 8, 2021
KARACHI: Pakistan’s auto market demand is likely to double from 300,000 units to 650,000 units in five years as a result of rapid digital transformations in the country’s economy coupled with a growing young population, a Chinese automaker said on Wednesday.
“The recent population trend shows around 10 million young males are expected to become independent earners in just half a decade,” said an official of Master Changan Motors Limited (MCML) during the company’s first vendor conference.
The conference that was held at the company’s plant in the metropolis is also the first ever such event conducted by any new entrant in Pakistan’s automotive industry.