In a notice to the Pakistan Stock Exchange (PSX), Air Link informed the inauguration ceremony It’s Mobile Device Manufacturing Facility. The company will be responsible for the production of Xiaomi handsets in Pakistan. The launch will take place on March 4, 2022 at Quaid-e-Azam Industrial Estate, Kot Lakhpat, Lahore.
Pakistan’s Air Link Communication Limited on announced the news on Monday.
Xiaomi Production Facility
“It’s a historic event for our country where Xiaomi, one of the largest smartphone companies, is kicking off production in Pakistan by joining hands with Select Technologies (Pvt) Limited” read the statement.
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“This production facility is a step forward in the direction of PM’s vision of ‘Make in Pakistan’. It will have a huge impact on Pakistan’s economy resulting in the export of locally-produced Xiaomi mobile phones,” Air Link added.
President Pakistan Dr. Arif Alvi is expected to inaugurate the production facility near Lahore. Last year in November. According to the reports, the initiative will generate a sale volume of $550 million per year. Meanwhile, creating thousands of jobs in Pakistan.
A Hit For The Company’s Stocks
The company’s share price nearly increased by four per cent on Monday, after the information was shared with PSX. Its stock price moved from Rs54.75 to Rs56.87. Meanwhile, the Adviser to Prime Minister for Commerce and Investment, Abdul Razak Dawood informed that realme mobiles has also started producing mobiles locally at their unit in Lahore.
“I would like to congratulate RealMe mobiles which has started producing mobiles locally at their unit in Lahore. This has not only created employment but it has also decreased the cost of their locally made smartphones,” Dawood tweeted on Monday.
“The new development aligns with MOC’s (Ministry of Commerce) Make-In-Pakistan policy of promoting industrialisation and import substitution,” he added.
Chairman, Engineering Development Board (EDB), Almas Hyder said that 30 companies took permission to set up mobile assembling plants and out of the 30, 19 companies have already started assembling. “We are expecting the remaining companies would also soon be starting their operations at their respective plants,” Hyder said.
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Air Link also started to manufacture mobile phones locally in Pakistan in April. The monthly capacity of 400,000 units per month, will reach up to 550,000 units per month by the year 2023.
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