Chairman BOI writes to PM Shehbaz Sharif over mobile phone factory crisis

ISLAMABAD: The chairman of Board of Investment (BOI) wrote a letter to prime minister (PM) Shehbaz Sharif over the mobile phone factory crisis, ARY News reported on Friday.

In a letter written to PM Shehbaz Sharif the chairman of BOI Muhammad Azfar Ahsan stated that the mobile phone factories are facing crises. The companies used to make three lac smartphones.

The letter further stated that the closure of Letters of Credit (LCs) has resulted in the unemployment of many workers. 30 mobile phone assembling factories are facing a crisis.

Almost four lac people are working in the mobile phone industry and the industry needs $10 crore in equipment and raw material monthly.

Read more: PAKISTAN TELECOM SECTOR IN TURMOIL AS USER REVENUE HITS WORLD’S LOWEST

Earlier, it was reported that the Pakistan’s telecom sector is facing a severe financial crisis as the per-user revenue has hit the world’s lowest at $0.80.

This alarming number had caused distress among telecom operators in Pakistan. The sources within the industry said it will be difficult for the telecom operators to continue services, due to the devaluation of the Pakistani rupee as compared to the dollar.