‘Telecoms received $7bn in five years’ ISLAMABAD: Pakistan has received over $7 billion foreign investment in flourishing telecommunication sector during last five years, said President Mamnoon Hussain on Tuesday.
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.
“The telecommunication sector in Pakistan is one of the most dynamic sectors and 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.
Lauding the government’s economic policies, the president said 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.
Efforts on developing IT sector: Dar
APP adds: The government is making maximum efforts for the development of IT sector in the country, Finance Minister Ishaq Dar said on Tuesday.
Meeting the ITU delegation, Mr Dar said the telecommunication industry has thrived in Pakistan during the last decade and has significantly contributed to the GDP.
Mr Dar reiterated that Mr Zhao’s visit has provided Pakistan with an opportunity to strengthen its existing ties with ITU and open new horizons of cooperation in ICTs.
He also acknowledged the services of ITU as 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 sector particularly in application development.