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Dollar Crisis Shuts Smartphones Manufacturing Plants

Due to the ongoing financial and dollar crisis, the local-level mobile manufacturing units have also started closing down, which has revealed the unemployment of thousands of employees. In an open
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Due to the ongoing financial and dollar crisis, the local-level mobile manufacturing units have also started closing down, which has revealed the unemployment of thousands of employees.

In an open letter written by the former Minister of State and Chairman Investment Board, Muhammad Azfar Ahsan, to the Prime Minister of Pakistan, Shehbaz Sharif, it has been stated that the mobile phone factory Transition Techno Electric, established under the China-Pakistan Economic Corridor, is facing forced closure. The company used to make 300,000 smart mobiles per month in Pakistan.

Due to the non-opening of LCs, around 3000 employees, including 400 engineers, have become unemployed.

The remaining 30 smartphone assembler factories, like Transition Techno Electronics, need help. The smartphone industry employs about 400,000 people, while the local mobile phone assembler industry requires $100 million of equipment and raw materials per month.

Also Read: Fawad Chaudhry’s Audio Leaks Matter

It has been said in the letter that Prime Minister Shahbaz Sharif can save millions of jobs by providing this foreign exchange.

On the other hand, a copy of the letter has also been sent to the Federal Minister of Finance, Minister of Industry and Production, Federal Minister for Information Technology, Minister of Commerce, and Federal Minister for Planning.

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