Pakistan Telecom Sector’s FDI Jumps 154.9 % between July-August FY18

Pakistan Telecom Sector’s FDI Jumps 154.9 % between July-August FY18.  These figures shows that  investment in telecom sector is gradually increasing once again in Pakistan with the expansion and advancement of infrastructure of telecom companies in different cities.

The central bank revealed on Monday that the foreign direct investment -FDI coming in Pakistan is more than doubled to $457.2 million during the first two month of this year. Maximum FDI flow in country is due to investments specifically in Power and communication sectors.

Pakistan Telecom Sector’s FDI Jumps 154.9 % between July-August FY18

On Monday State Bank of Pakistan announced figures which clearly shows that FY18 has a very good start. According to it telecom sector has received an FDI of $92.5 million during July and August. This rise is also due to Zong’s 3G and 4G services.

Khurram Schehzad, a chief commercial officer at JS Global Capital Limited Said:

The cross-border investments into the country are expected to go up with most [flows] going into power and telecommunications firms. The technology start-up companies can generate ample interest in times to come

Pakistan received the largest amount of FDI from China,US and Malaysia. Out of these three countries China was the biggest contributor with $258.3 million FDI in July and August.

We can expect the investment figures to rise and remain bright due to CPEC. Many long term projects regarding electricity generation are in process under CPEC.

Pakistan’s economic growth, which the IMF expects to increase to five percent in 2017 and 5.2 percent in 2018. These figures will surely make Pakistan an attractive destination for foreign investors.
Overall, Pakistan’s telecom sector has been doing pretty well so far with the government also putting in an effort. IT Minister, Anusha Rahman also stressed the importance of digitizing Pakistan. She aims to take Software and Telecom exports to $6 billion by 2020. Pakistan’s close ties with China have also been a contributing factor in uplifting the telecom sector.

Also Read: Telecom Sector Received $ 21m as FDI During Q1

Fizza Atique

Fizza Atique is a Tech writer specializing in the intersection of tech and culture. She likes photography, VR, electronic music, coffee, and baking.
Back to top button