WEB DESK: After the successful inauguration of Pakistan Stock Exchange, Pakistan is likely to manufacture cell phones and smart phones, Khaleej Times reported.
“Foreign investors, who are seeking investment in the telecom sector are likely to get big incentives,” Ministry of Finance sources told the website.
They include prospective investors, particularly from UAE, Saudi Arabia, and Asean. Some of these investors propose to join hands with Chinese companies which have reputed and cost-effective technology and trained manpower.
Their plans are to make Pakistan as the production base to feed the Pakistan-Central Asia-Iran, and Middle Eastern and African markets for telecom and cellular products.
“The decision has been made by our Ministry of IT and Telecom,” Minister of State Anusha Rehman said.
“As soon as our domestic manufacturing starts, Prime Minister Nawaz Sharif’s government would have fulfilled one more promise to provide cheaper products to people expand local manufacturing and ensure more jobs to Pakistanis,” she also said.
The International Data Corporation report pointed out another important factor and said mobile phone penetration currently stands at around 75 per cent in Pakistan which means the country has a sizable share of the population that is to acquire any type of mobile device. Uptake among the fist-time buyers is sure to spur the smartphone market’s development even further.
Source: Khaleej Times