President Mamnoon Hussain said that Pakistan had received more than $7 billion foreign investment in the growing telecommunication sector during last five years. He stated that the telecom industry is one of the most active fields in Pakistan.
“This area has attracted $7bn in Foreign Direct Investment (FDI) which is a reflection of the right mix of regulatory and policy framework of the government,” a statement said.
Mamnoon Hussain while praising the economic policies of the government, stated that the government’s vision for the telecommunication sector was nationally available, affordable and quality telecommunication services that were provided through open, competitive, and well-managed markets, for the benefit of the economy and society, Dawn reported.
He said this during a meeting with a delegation of International Telecommunication Union (ITU), led by its Secretary-General, Houlin Zhao, which called on him at the Presidency. Minister of State for Information Technology Anusha Rahman was also present on the occasion.
As a result of the robust economic policies of the government, the investing has been increased in the Information Technology (IT) and the telecom industry. This field is progressing continuously.
According to the sources, the foreign investors who invested in this area belong to the United Arab Emirates (UAE), the United States (US), and China. Due to the increase in the usage of 3G and 4G-LTE services in Pakistan, the country is actively competing with the developed countries.
The delegation also met with the Finance Minister Ishaq Dar. Mr. Dar stated that the telecommunication field is growing in Pakistan during the last ten years and has significantly contributed to the GDP.
He emphasized that the visit of Mr. Zhao to Pakistan has provided the country with a chance to enhance its existing ties with ITU and open new horizons of cooperation in ICTs.
He also said that the services of ITU as the specialised agency of the United Nations for Information and Communication Technologies (ICTs) to standardise and regulate international radio and telecommunications.
Mr. Zhao said it was the agenda of ITU to support and further increase the presence of small and medium size entrepreneurs in the IT sector for the development of the industry and attracting further investment in the area, especially in application development.
Earlier, Ishaq Dar welcomed the merger of Pakistan Mobile Communications Limited (Mobilink) and Abu Dhabi group of mobile telecommunications limited (Warid Telecom).