Islamabad [Pakistan], April 3 : All 30 mobile phone assembly units in Pakistan, including three units of foreign brands, have shut down, putting the future of nearly 20,000 employees at stake, Pakistan vernacular media Daily Ausaf reported.
According to manufacturers, they have run out of raw materials due to import restrictions.
As per Pakistan based The Nation, raw materials from China, South Korea, and Vietnam are nearly depleted, and the industry requires USD 170 million per month for regular operations.
With a 35.37 per cent inflation rate from the previous year and limited foreign currency available, this is not sustainable for operations. The telecom industry has expressed similar concerns, as most technology equipment suppliers require imported items.
Industries need maintenance and expansion to progress and it is unfortunate that Pakistan's reputation as a mobile phone manufacturer has been severely impacted, according to The Nation.
ARY News recently reported, after Pak Suzuki Motor Company Limited, engineering services company KSB Pumps Company Limited also announced that the production plant would shut down due to an import ban, ARY News reported.
KSB Pumps company announced that it will shut down its Hasanabdal production plant in Pakistan.
The Frankenthal-based multinational engineering services company, KSBP, is a subsidiary of KSB SE and Co. KGaA is a manufacturer of industrial pumps, valves, castings and related parts and after-market services, according to ARY News.
The company, in the statement, said that this will be a temporary suspension till further notice, due to import restrictions. The company will resume operations as soon as the market situation improves and staff may be readily recalled on short notice, it read.
Earlier, an automobile company, Pak Suzuki Motor Company Limited, announced to shut down its production plant from January 2 to 6.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor