Lahore, 14th May: Mubasher Lucman in his video today reported that Pakistan is making a game-changing move by incentivizing mobile production in Pakistan.
Communication is a vastly growing sector, the outburst of technology is opening new avenues. 141 billion $ revenue was generated by China in the year 2019 by mobile manufacturing.
The progressing economic giant China is facing opposition from certain countries opening opportunities for other countries to develop facilities and stand as an alternative to Chinese products.
According to Lucman, India has taken advantage of the situation and from 2011 to 2019 they have established 120 production units for mobiles creating job opportunities for more than 400,000 people.
Apple has its modern production facility in India and so does Samsung, Oppo, and others. The export target for 2028 is 1 billion mobile sets. It is a major foreign exchange earner.
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Pakistan was lagging behind but the new approval of production-friendly legislation will help gain economic benefits. Prior due to import taxes and duties, local manufacturing was not attractive rather Chinese import was cheaper making it impossible to compete. Now with new legislation, the situation will rever hopefully.
Lucman adds that another great news is about the announcement of starting Bhasha Dam. Water preservation to irrigate barren land and producing cheap electricity are the need of the hour.
IPPs have been blackmailing and selling expensive electricity a mega corruption of $5000 billion is estimated during the last 14-15 years.
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FWO and Chinese companies have been awarded the contract to jointly construct the Dam. A Chinese company will design and construct water reservoirs and spillovers to produce 4000 Megawatts of electricity and irrigate one million sq km of barren land.
Lucman ends his video on a positive note that both these projects will boost local production and industry as well as attract foreign direct and indirect investment. Pakistan has great future prospects.
Stay tuned to Baaghi TV for more updates!
