MoiTT Sets $500 Million Smartphone Export Target for Next 3 Years

Recently, the Ministry of IT and Telecommunication released a document in which it set an ambitious target of achieving $500 million in revenue from smartphone exports over the course of the next three years. As per the document, the government of Pakistan plans to incentivize the local mobile industry by offering a 3% allowance for R&D to mobile manufacturers and raising it to 8% in the coming years.

Moreover, the document shows that the government is actively working on devising strategies to boost the competitiveness of local manufacturers in the global smartphone export market.

MoiTT Sets $500 Million Smartphone Export Target

Besides, MoiTT notes that despite the country’s massive domestic production capacity, the current smartphone exports are relatively modest, totaling around 250,000 phones with a value of around $150 million. However, with 33 mobile manufacturers operating in the country with the capacity to fulfill the entire local demand of 25 million phones annually, there is a lot of potential for growth in the export market. In addition, local mobile manufacturing has already generated around 40,000 jobs in Pakistan, which has contributed to economic growth and employment opportunities.

According to the MoiTT, Pakistan currently ranks as the 7th largest market for mobile users worldwide, with around 189 million people, representing 78% of its population, owning mobile phones.

Looking ahead, the government is also working on a policy for the localization of components, focusing on parts like chargers, batteries, hands-free sets, USB cables, and packaging. By encouraging local manufacturing and boosting the value chain, Pakistan seeks to further strengthen its position in the global smartphone market.