Mobile Phone Exports May Rise Significantly after Govt’s Latest Announcement
According to a credible source, the government is planning to roll out incentives for mobile phone exports. These incentives may assist the local producers to invest in the manufacturing of mobile phone parts. It was discussed in a meeting that took place between mobile industry stakeholders and representatives. The meeting was chaired by the Federal Minister of Commerce, Jam Kamal Khan.
The Ministry of Commerce agreed to speed up the process of rolling out incentives for mobile phone exports, according to an industry insider. He further said that the policy regarding these incentives will be introduced in a couple of months.
Moreover, the mobile industry stakeholders also sought a ban on the import of old mobile phones to boost the local industry. They also asked for a specific rate for the GST (General Sales Tax) rather than the current 18% GST ad valorem (based on the value). They claimed that the 18 percent General Sales Tax (GST) levied on mobile phones has reportedly damaged the local mobile industry.
Federal Minister Jam Kamal Khan ensured that the concerns of local industry would be addressed in consultation with the Federal Board of Revenue (FBR), the Ministry of Industry and Production, and the Ministry of Finance. He promised that all possible efforts would be made to promote the local manufacturing of mobile phones.
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