$9 billion foreign investmment in Telecomms in last few years, and billions more expected.
Pakistan PM Forecasts More Foreign Investment In Telecoms
Pakistan’s telecom sector is likely to attract $4 billion in foreign direct investment over the next few years, Prime Minister Shaukat Aziz forecast Saturday, although mobile phone operators said lowering the tax on activating new subscribers was key to further increasing phone usage. **“The telecom sector, which was getting negligible investment only a few years back, has attracted $9 billion foreign investment in the last three years and expects to get another $4 billion during the next 3-4 years,” **Aziz told a delegation of local mobile phone operators. Among recent investments, China Mobile Communications Corp. bought 88.86% of Paktel Ltd.'s shares for $284 million. Other deals have involved China’s Huawei Technologies Co., Germany’s Siemens AG and Finland’s Nokia Corp. Penetration of fixed and mobile telephony combined increased from 4.5% two years ago to about 40% of Pakistan’s population of 160 million. The authorities believe the country has the potential to add 30 million users in the next three years, but telecoms companies say the government needs to do more to encourage the use of mobile phones. The GSMA Association, representing more than 700 GSM mobile phone operators across 217 countries, and five local telecoms companies are pressing the government to eliminate an activation tax of PKR500 (US$8.3) per connection in the June budget. “The mobile industry can connect the unconnected in Pakistan, but lowering the cost of entry is essential to do that. The activation tax is significant barrier for people looking to own a mobile phone,” said Rob Conway, chief executive officer of the GSMA Association. “Pakistan is a leader in mobile usage in South Asia. The next step is to build on that achievement and how to connect the next 50 million people.” Aziz said the government was working to enhance rural phone usage and to provide basic telecom services to areas where it is lacking.
Re: Pakistan PM Forecasts More Foreign Investment In Telecoms
aziz is very good at forecasting, so he should be spot on, and pakistans telecom industry is one of the best in the world, i just hope the country was like that too.
Re: Pakistan PM Forecasts More Foreign Investment In Telecoms
aziz is very good at forecasting, so he should be spot on, and pakistans telecom industry is one of the best in the world, i just hope the country was like that too.
Don't worry wait till BB, Zardari take over very soon. All will be well :)
Re: Pakistan PM Forecasts More Foreign Investment In Telecoms
As long as the post 9/11 American/Western support continues, it doesn't matter if a donkey is in charge, Pak will float along, as it currently is.
companies do not make long term investments and commitments because of some temporary blip on the radar. when you have sophisticated organizations like credit suisse planning to enter Pakistan its because they think there is sustaining change there.
Re: Pakistan PM Forecasts More Foreign Investment In Telecoms
Pakistan’s single largest foreign investor by far is the UAE, and they have invested close to $15 billion during the last 5 years - a great deal in the Telecoms industry. That is a truly record amount of investment never seen in Pakistan’s history.
http://www.zawya.com/story.cfm/sidZAWYA20070209092800 The UAE has invested more than $ 9.5 billion in Pakistan over the past four years, with total investment expected to reach $ 15 billion this year. Major investment has been made in the real estate sector, including housing projects, the construction of shopping malls and telecommunication. The Gulf nation is the largest foreign investor in Pakistan’s public and private sectors, with experts saying that the amount in real estate investment alone has surpassed $ 4 billion.