Abdul Razak Dawood, Adviser to PM on Commerce and Investment, revealed that Samsung Electronics is amidst of establishing a television manufacturing plant in Karachi. This will be in collaboration with R&R Industries. The plant is expected to start production in the fourth quarter of FY21 and produce 50,000 televisions per year.
Dawood was of view that competing with Samsung’s large investment and promising reputation would be difficult for other locally manufactured brands.
Global Solutions Chief Executive Officer Noman Ahmed termed the achievement as a laudable indicator for Pakistan’s economy.
In an interview with the media, he established that his company’s resilience continues to find unique solutions for consumer demands to be satisfied locally, even with the recent regrettable refusal of the New Zealand and England cricket teams to play in Pakistan.
Furthermore, he argued that it would attract foreign skills. This would in turn generate a domino effect by persuading additional global corporations to start manufacturing locally. Increasing competition in the local market would result in a higher quality production. It will supplement the consumers and give them value for their money.
Samsung Electronics, which was created in 1969, swiftly rose to prominence in the Korean market. Samsung quickly grew into a global brand, and for the past 15 years, it has been one of the world’s leading television manufacturers. Its arrival in local manufacturing is not only good news for buyers but it will also give rise to tech based economy and will produce thousands of jobs.