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Pakistan’s Telecom Industry Attracted $7B Investment in 5 Years

The telecommunications sector in Pakistan has witnessed a remarkable influx of investments, exceeding $7.1 billion over the past five years. This unprecedented growth has significantly contributed to the national exchequer, adding Rs. 1,121 billion during the same period.

Rapid Growth and Contribution to GDP

The industry’s expansion has been nothing short of impressive, with its size soaring from $17 billion to a staggering $26 billion within the last five years.

The telecommunication sector has played a pivotal role in boosting the country’s GDP, accounting for 5.7 percent of it.

Resilience and Inclusion

Despite facing numerous challenges such as floods, economic issues, and import constraints, the telecom industry exhibited resilience and recorded a commendable growth rate of 7.2 percent in the fiscal year 2022-23 (FY23).

Digital inclusion also witnessed an upswing. Increasing by 10 percent in the previous year, making a 1.33 percent contribution to the GDP.

Broadband Projects for Backward Areas

The Ministry of IT initiated and expedited 83 broadband projects in underserved regions, with support from the Universal Service Fund (USF) over the past five years. An impressive sum of Rs. 81 billion was invested in broadband projects aimed at addressing connectivity gaps in these areas.

Empowering Marginalized Regions

The government launched broadband projects in Balochistan, FATA, interior Sindh, and interior Punjab to meet the needs of populations without access to or with limited access to internet services.

The allocated budget, a significant 33 percent was invested in Balochistan alone. The objective of reaching over 30 million citizens in underserved and deprived communities.

Transformative Investments and Job Creation

Thanks to the efforts of the IT Ministry and the Pakistan Telecommunication Authority (PTA), the telecom sector saw an influx of 141 companies investing in various aspects. Including optic fiber, telecom infrastructure, the Internet of Things, smart devices, and value-added services. These ventures have already resulted in the creation of 60,000 new jobs, boosting economic growth further.

5G Trials and Smartphone Revolution

The industry has also taken strides towards 5G technology, with successful trials conducted in Pakistan. Preparations for the commercial launch of 5G have been thorough, with a comprehensive study in collaboration with the World Bank and the industry.

Furthermore, the Ministry has actualized its vision of “Smartphone for All” by preparing 22 million smartphones within Pakistan in FY23. The PTA has granted 33 manufacturing licenses to notable companies such as Samsung, Nokia, VIVO, OPPO, and Xiaomi.

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