Islamabad, 19 January 2023 (GNP): According to reports, multinational companies are shutting down their mobile phone assembly plants in Pakistan due to a shortage of dollars. Three major phone manufacturers have reportedly closed their assembly units creating concern among mobile phone traders in Lahore.
Lahore Traders Rights President Sardar Azhar Sultan issued a statement to a private news channel:
“Due to the shortage of dollars, mobile phone companies are facing difficulties in sending capital to their head offices abroad. The business community also faces difficulties in importing mobile phone accessories. The Letters of Credit (LCs) are not being opened. Goods are not coming. How will the businesses run?”
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Although no specific mobile phone companies have been named, Samsung, Xiaomi, Vivo, Infinix, and a few others are the major mobile phone manufacturers in Pakistan. Currently, no official word has been out about which of these brands will or have halted production.
