US company to manufacture biomedical equipment in Pakistan

[StormBreaker]

LAHORE: For the first time in the country’s history, a US biomedical engineering company would set up a manufacturing unit of biomedical equipment in the Allama Iqbal Industrial City, a prioritized Special Economic Zone of Faisalabad Industrial Estate Development and Management Company (FIEDMC) under China Pakistan Economic Corridor.

The company director Dr Usman Mustafa had called on FIEDMC Chairman Mian Kashif Ashfaq on Monday.

At the early stages, this American company will manufacture only those biomedical products or disposables which are being used for heart surgery or its treatment and later, in next stage, heart stents and other latest medical equipment will also be manufactured here to meet the local needs.

Speaking on the occasion, FIEDMC Chairman Mian Kashif Ashfaq said, “Pakistan will be in a position to save millions of rupees worth foreign exchange in the wake of import of biomedical equipment and this will also ultimately lead to self-reliance in medical sector besides enabling our industry to export it to other countries too.”

He said after installation of this unit, the price of biomedical equipment would be slashed remarkably in the local market which will greatly help the needy patients.

He said a research centre will also be established in FIEDMC with the collaboration of this company which will open new doors of medical research in Pakistan.

“FIEDMC will also provide all available facilities to the said company for installing its unit and the objective behind offering free-of-cost land is to lay the foundation of biomedical engineering in Pakistan so that it will help develop the country’s medical sector to meet the challenges both at local and international levels.”

Mian Kashif maintained said investors from across the globe will pump investment in different projects of FIEDMC in days to come.

Later, Dr Usman visited Allama Iqbal Industrial City where he expressed his satisfaction over the pace of its development undergoing and congratulated Mian Kashif Ashfaq for materializing the dream of this mega project.

Source : Profit

 

[StormBreaker]

After the world realized the production monopoly and engine of World, China, which got hit by an epidemic of Corona virus, many companies will now consider shifting and branching their productions to multiple countries. Pakistan, Bangladesh are good options due to cheap labour, but we lack in Skilled Labour. Government should encourage FDI, and should introduce bootcamps accordingly to bring in poor/jobless people to get trained and work for the industries as per international standards

 

[313ghazi]

This is very good news. We need to attract investment of all sorts from around the world.

 

[Haris Ali2140]

After the world realized the production monopoly and engine of World, China, which got hit by an epidemic of Corona virus, many companies will now consider shifting and branching their productions to multiple countries. Pakistan, Bangladesh are good options due to cheap labour, but we lack in Skilled Labour. Government should encourage FDI, and should introduce bootcamps accordingly to bring in poor/jobless people to get trained and work for the industries as per international standards

This will take min 5 years. We still have to sort out taxes, rules etc.

 

[StormBreaker]

This will take min 5 years. We still have to sort out taxes, rules etc.

A drawback Pakistan has is some people doesn’t want Pakistan to go through industrialization, Be it USA or even to some extent China, Remember !!!

 

[AZADPAKISTAN2009]

A welcomed initiative

• We used to make/manufacture medicine as well locally in Pakistan before but we have fallen behind

 

[Samlee]

excellent news

 

[Ghareeb_Da_Baal]

fake newj. PAK is asolatud

 

[Bossman]

A welcomed initiative

• We used to make/manufacture medicine as well locally in Pakistan before but we have fallen behind

we still do!

 

[American Pakistani]

Pakistan should welcome manufacturing. The plus of manufacturing is that at least pakistan is getting the skills and know how which can be utilized in future.

Its always a welcome sign when manufacturing comes in, instead of assembling.

 

[cloud4000]

After the world realized the production monopoly and engine of World, China, which got hit by an epidemic of Corona virus, many companies will now consider shifting and branching their productions to multiple countries. Pakistan, Bangladesh are good options due to cheap labour, but we lack in Skilled Labour. Government should encourage FDI, and should introduce bootcamps accordingly to bring in poor/jobless people to get trained and work for the industries as per international standards

Every Pakistan government from the present to the past has been encouraging FDI (non-China) for years but to little avail. The reasons are manifold: taxes and fees, regulation and red tape, and a capricious judiciary. The courts are especially a problem given their tendency to meddle in business affairs and overturn agreements over suo moto cases. I think Pakistan needs to limit the power of the judiciary to cancel agreements on whimsical grounds.

Still, Pakistan eliminating tariffs on imported cotton is helping the textile helps. It should lift restrictions and taxes and tariffs on all industries across the board. Help local businessmen thrive, the foreign money will follow.

 

[StormBreaker]

Every Pakistan government from the present to the past has been encouraging FDI (non-China) for years but to little avail. The reasons are manifold: taxes and fees, regulation and red tape, and a capricious judiciary. The courts are especially a problem given their tendency to meddle in business affairs and overturn agreements over suo moto cases. I think Pakistan needs to limit the power of the judiciary to cancel agreements on whimsical grounds.

Still, Pakistan eliminating tariffs on imported cotton is helping the textile helps. It should lift restrictions and taxes and tariffs on all industries across the board. Help local businessmen thrive, the foreign money will follow.

Even if not FDI, we ourselves have many tycoons and people with deep pockets, hidden gems are they, but the government has failed to give them confidence, judiciary is the real hurdle, plus, most of the people who are rich, have less education background, less motivated to build some competitive, world class corporations as they have no experience of in such sort of clean business.

 

[nahtanbob]

View attachment 608335

LAHORE: For the first time in the country’s history, a US biomedical engineering company would set up a manufacturing unit of biomedical equipment in the Allama Iqbal Industrial City, a prioritized Special Economic Zone of Faisalabad Industrial Estate Development and Management Company (FIEDMC) under China Pakistan Economic Corridor.

The company director Dr Usman Mustafa had called on FIEDMC Chairman Mian Kashif Ashfaq on Monday.

At the early stages, this American company will manufacture only those biomedical products or disposables which are being used for heart surgery or its treatment and later, in next stage, heart stents and other latest medical equipment will also be manufactured here to meet the local needs.

Speaking on the occasion, FIEDMC Chairman Mian Kashif Ashfaq said, “Pakistan will be in a position to save millions of rupees worth foreign exchange in the wake of import of biomedical equipment and this will also ultimately lead to self-reliance in medical sector besides enabling our industry to export it to other countries too.”

He said after installation of this unit, the price of biomedical equipment would be slashed remarkably in the local market which will greatly help the needy patients.

He said a research centre will also be established in FIEDMC with the collaboration of this company which will open new doors of medical research in Pakistan.

“FIEDMC will also provide all available facilities to the said company for installing its unit and the objective behind offering free-of-cost land is to lay the foundation of biomedical engineering in Pakistan so that it will help develop the country’s medical sector to meet the challenges both at local and international levels.”

Mian Kashif maintained said investors from across the globe will pump investment in different projects of FIEDMC in days to come.

Later, Dr Usman visited Allama Iqbal Industrial City where he expressed his satisfaction over the pace of its development undergoing and congratulated Mian Kashif Ashfaq for materializing the dream of this mega project.

Source : Profit

name of the company ??

 

[Yaseen1]

i think we should be careful of u.s biomedical companies as after coronavirus there is a high risk that such companies will spread new types of diseases in our public by using their biological weapons within their manufactured products,when they not setup manufacture industry for electric cars and IT equipment and other technology related items but only trying to establish biomedical factories it raises such doubts so we should not simply allow such companies without proper scrutiny and be aware of their trap in modern days

 

[StormBreaker]

i think we should be careful of u.s biomedical companies as after coronavirus there is a high risk that such companies will spread new types of diseases in our public by using their biological weapons within their manufactured products,when they not setup manufacture industry for electric cars and IT equipment and other technology related items but only trying to establish biomedical factories it raises such doubts so we should not simply allow such companies without proper scrutiny and be aware of their trap in modern days

Biomedical equipment has no relation with spread of diseases, despite the name being close to medicine.

It doesn’t serve US any purpose to wage such a biological war on Pakistan, since Pakistan is not driving the world’s production or is an arch rival of USA so... Although one can’t deny the enmity of USA as well.