Mobile device manufacturing policy okayed.

ISLAMABAD: The Engineering Development Board (EDB) on Friday approved mobile device manufacturing policy to encourage local manufacturers through technology acquisition and localisation.

The policy, approved by the EDB board of management in a meeting held on Friday, was submitted to the Ministry of Industries and Production.

The policy, approved after extensive stakeholder consultations, is expected to promote local investments and foreign direct investment (FDI), the EDB said.

Pakistan is the seventh largest market for mobile sets in the world with annual sales of 34 million handsets during 2019. The local device manufacturing activity is projected to create 200,000 direct and indirect jobs within the country besides developing efficient manufacturing ecosystem and linking the country to the global supply chain.

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With an increasing demand and labour cost advantage, the policy will help develop a major industry in the country capable of generating export surplus to sell its brand of 'Made in Pakistan' in the international markets.

The meeting, chaired by the EDB Chief Executive Officer Almas Hyder also deliberated on the electric vehicle policy drafted by the board in consultation with stakeholders.

It was proposed to ensure a comprehensive policy framework to not only cater for electric vehicles but emerging technologies in this sector as well as ensuring that the supply chains of existing players are not disturbed.

The board emphasised the need for a favourable incentive regime to promote local investments and attract FDI.

Meanwhile, in Karachi, Federal Minister and Adviser to PM on Climate Change Malik Amin Aslam said that a draft of Electrical Vehicle Policy will be submitted to the Economic...