Economics

Samsung to set up TV plant in Pakistan, says Razak Dawood

Adviser to Prime Minister on Commerce Abdul Razak Dawood. Photo: file 

KARACHI: Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood Wednesday announced that South Korean tech giant Samsung Electronics, in a joint venture with a local company, will establish its TV line-up plant in Pakistan.

Taking to Twitter, Abdul Razak Dawood said, “I have been informed that Samsung Electronics is in the process of establishing their TV line-up plant in collaboration with the R&R Industries at Karachi.”

“It [plant] will become functional in Q4 of 2021 and is expected to produce 50,000 units annually,” he added.

The joint venture is a vindication of the Ministry of Commerce’s “Make-in-Pakistan policy for industrialisation via rationalisation of input costs and other incentives,” he added.

In July, the South Korean company had signed an agreement with Lucky Motor Corporation to begin manufacturing its phones in Pakistan.

Samsung’s decision to assemble phones in Pakistan was an indication of the success of the Mobile Device Manufacturing Policy (MDMP) launched by the government in June 2020.

The vision of the policy was clear that by 2022, 80% of all mobile phones sold in Pakistan should be locally manufactured.

Last year in August, Prime Minister Imran Khan had declared that the government was vigorously pursuing a Make-in-Pakistan policy to promote export-oriented industrialisation in the country.

Source: The News

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button