Federal Minister for IT and Telecommunication Syed Amin Ul Haque has said that foreign direct investment (FDI) in the telecommunication industry remained $6.1 billion from 1st July 2018 to 30th March, 2022.
In his message on the occasion of the World Telecommunication and Information Society Day, the minister said that revolutionary steps have been taken in the information technology and telecommunication sector in the last three-and-a-half years in Pakistan.
He said the number of active mobile SIMs reached 193 million by March 2022 due to reforms in the telecom sector, and mobile and fixed broadband consumers’ number saw 39.4 percent increase. Haque said that projects were started through Universal Service Fund (USF), the attached department of the Ministry of IT & Telecom, for the provision of broadband services across the country.
He said that over 37 projects worth Rs31 billion were launched by June 2021, and up to 50 to 75 percent work has been completed on most of these projects. The minister said that Rs6.47 billion are being spent on nine different projects of optical fibre and broadband services in Punjab, and nine projects worth over Rs8.48 billion are also underway in Sindh for provision of high-speed internet and laying of fibre optics in the province.
He said the number of projects for the 14 districts of Balochistan is 11 costing Rs8.43 billion. Over Rs7.08 billion are being spent on 8 different projects of broadband services and optical fibre in fourteen districts of KPK, he noted.
Haque said that Rs29 billion are also being spent on 28 projects for provision of broadband services in far-flung areas during the current financial year. Work is also underway on nine different projects for laying of fibre optic cable in all four provinces. He added that a total of 4,746 kilometres long cable is being laid which will cost Rs13.14 billion. He said that USF completed projects for provision of mobile networks on 1,929 kilometres of main highways.
Source: https://dailytimes.com.pk/936600/6-1b-fdi-recorded-in-telecom-industry-in-over-3-years-haque/