EDB approves policy draft

ISLAMABAD: Engineering Development Board (EDB) on Friday approved the draft of mobile device manufacturing policy for submission to the Ministry of Industries and Production, and expects that it will create 0.2 million jobs while attracting local and foreign investment.

In its meeting, board emphasised on the need for favourable incentives to promote local investments and attract foreign direct investment (FDI). “Besides attracting investment, it will help in development of efficient manufacturing eco-system and linking Pakistan to the global supply chain,” a statement said.

The proposed policy has been drafted after extensive stakeholder consultation to encourage local manufacturers in this sector through technology acquisition and localisation, the statement added.

EDB Chairman Almas Hyder, while presiding over the EDB’s Board of Management (BoM) meeting, advised to organise trade delegations to various free trade zones of Africa to tap the huge export potential in this region.

Members also advised to look for trade opportunities in European and American markets. Pakistan is the seventh largest market for mobiles, with annual sales of 34 million sets in 2019. With an increasing demand and competitive advantage of labour cost, it should develop into a major industry, capable of manufacturing export surplus.

The board also deliberated on the Electric Vehicle Policy drafted by EDB in consultation with concerned stakeholders. It was proposed to have a comprehensive policy framework not only to cater for EV, but to cover emerging technologies in this sector to ensure that supply chains of existing players do not get disrupted.