Joint Investment of One Billion Dollars Expected In Telecom
We have seen how the telecom industry growth stalled last year due to policy issues. Now the CEOs of major telecom companies operating in Pakistan are sending a clear message to the government: you do your part and we will continue to invest.
The Chief Executive officers of major telecom companies working in Pakistan have expressed their commitment to jointly invest at least US$ one billion in infrastructure, capital expenditure and technology in the next fiscal year to complement the enabling environment that the government is providing as a stimulus.
According to an official handout, the CEOs of all telecom companies in Pakistan including Mobilink, Warid, Ufone, Telenor and China Mobile called on Prime Minister, Syed Yousuf Raza Gilani at the PM’s House Wednesday afternoon and discussed with him matters relating to the cellular companies in perspective of the upcoming budget.
The Prime Minister appreciated the investment made by the mobile companies in the telecom sector of Pakistan, which has so far attracted foreign direct investment of US$ nine billion amounting to 46per cent of country’s total FDI in the last three years.
Ambassadors of China, Mr. Luo Zhaohui; Egypt, Mr. Megly Amer; Norway, Robert Kvite and UAE, Mr. Ali Saif Al-Awani were also present during the meeting.
The Prime Minister appreciated the investment made by the mobile companies in the telecom sector of Pakistan, which has so far attracted foreign direct investment of US$ nine billion amounting to 46per cent of country’s total FDI in the last three years.
The Prime Minister assured the meeting that the government would continue to provide incentives to the telecom industry so that the sector may continue to attract more investment and create more jobs.
[Report via DAWN.com]
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