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Samsung’s take on non-availability of raw materials in Pakistan

Samsung mobile factory in Pakistan has fired several employees due to non-availability of raw materials

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Economic challenges in form of new tax system, rising inflation and power shortage have caused massive disruption at all levels. Similarly, Samsung mobile factory, owned by Lucky Motors has fired several employees because of the non-availability of raw materials in Pakistan.

Read more: Bid farewell to mobile and internet services!

PTA Authorized Lucky Motor Corporation to Manufacture Samsung Mobile Devices in August 2021 which was good news through various aspects such as job creation and contribution towards Gross Domestic Product (GDP).

It is not only the case of Samsung, similar reports from Vivo mobile factory are also seen that it fired almost 1000 employees.

In reply to this tweet, a PTI supporter said, “What about the denim factory that fired 4000 workers and stopped its operations.”

Wave of inflation accompanied with unemployment

One economic measure can have multifold effects in different domains of the economy. According to the economic theory, high inflation in a country leads to low investment as it is less certain that investment will be profitable. Accompanied with ban on imports and newly introduced ‘super tax’ in Pakistan, all of this is causing massive unemployment.

Moreover, in recent past, companies like Careem and Airlift also ended their operations in some domains and fired a number of people.

Airlift being an efficient and fast commerce startup has decided to close all its operations in the country due to a massive decline in the Pakistani currency and a global capital downturn as a whole. This has largely affected businesses around the world.

Careem initially laid off 31 percent of its employees in the year 2020 due to pandemic. In 2022, SVWL, Airlift, and Careem food laid off a number of their employees. Restricted their operations or almost winded up.

Shaukat Tarin, former Finance Minister claimed that inflation has gone up to highest levels and unemployment will increase further. “We think that the unemployment rate will go up to 25-30% as increasing the petroleum levy will increase petrol price further,” he said.

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