ABB Pakistan Limited is reportedly set to develop an assembly line in the country. Karl Fahumuddin of ABB Pakistan told local press, “The plan has been approved and we are seeking land for the project”, adding that it would be a multi-million dollar project.
The company has launched a new range of industrial grade circuit breakers, which are said to save up to 15% energy consumption.
ABB has been present in Pakistan since 1992 and currently imports products from Europe. The new assembly line may be based in either Karachi or Lahore.
Elsewhere in Pakistan, the cement industry – via the All Pakistan Cement Manufacturer’s Association – has called on the Federal Board of Revenue to exclude cement from the Third Schedule of Sales Tax Act, which has resulted in rising cement prices.
“The government can provide the needed respite to both the cement industry and consumers by considering recommendations that were promulgated by the industry in its budget proposals for the year 2013 – 2014,” the APCMA said.
Edited from various sources by Katherine Guenioui