South Korea’s electronics giant Samsung is also developing a TV line-up facility in Karachi in another important development for the industrial sector of Pakistan, declared Prime Minister Abdul Razak Dawood as adviser to trade and investment.
“I am aware that in cooperation with R&R Industries at karatshi Samsung Electronics is in the midst of setting up its TV line-up system,” Dawood remarked in a tweet.
The advisor stated that in the fourth quarter of 2021 this factory would become operational and that it would generate 50,000 units a year.
“It’s the reinforcement, via input expenses and other incentives, of MOC’s ‘Make-in-Pakistan’ policy on industrialization,” continued Dawood.
Samsung Electronics reported the consolidated revenue of Korean Won (KRW) of 63,67 trillion as per the financial results for the second trimester ended on June 30th 2021, 20 percent more than last year, with the second trimester recording an increase of 20 percent. As the market conditions improved in the memory sector, operating profit grew 34% from the previous quarter to KRW 12,57 trillion.
Pakistan, which promotes local assembly/manufacturing to lessen import reliance, also benefits from this growth.