In a major development Pakistan through import substitution of cellphones has saved over $410m in foreign exchange.
In a meeting held to examine the progress made for export of locally manufactured cellphones, Abdul Razaq Dawood remarked.
During July-November 2021, import of completely built units (CBUs) decreased by 73% to $179 million as compared to $661 million during the same period of previous year.
“This has saved $410 million in foreign exchange.” he added.
In contrast, import of mobile phone components for local assembly increased by 407% to $674 million from $133 million in the previous year.
“Earlier, Pakistan was a net importer of mobile phones but the situation has now been reversed and jobs are also being created in this sector,” Dawood said.
“Our vision is to make Pakistan a hub of mobile phone manufacturing and exports.
