What happened: Samsung is in dialogue with three investors to establish a mobile manufacturing unit in Pakistan. Details : Sources said out of three parties, one has a franchise from Korea which has already set up vehicle assembling plants in Pakistan under Auto Development Policy (ADP) 2016-21, while other two are different parties. Market sources said Samsung may prefer the option to ink the agreement with one of the Korean companies operating in Pakistan owing to comfort level which it may not find with non-Korean firms. They said so far no agreement has been signed as Samsung, however it is under process. After short listing various companies, the plan will finalized and the license to one of the companies for cellphone manufacturing will be awarded. “The Korean company aims to start local assembly of cellphones in the last quarter of this year,” a source reported. Cellphone imports, as per figures of Pakistan Bureau of Statistics (PBS), have swelled by 63pc to $1.860 billion in 11MFY21 from $1.138bn in the same period last fiscal year. The government has been working to encourage foreign players to invest in Pakistan for setting up cellphone manufacturing units. The aim is to produce the product under the name of Pakistan and to discourage imports. Click here to see more from Propergaanda.
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