Good time is coming for Pakistan as World Bank reported this week that Pakistan has topped the South Asian countries list with more telecom users, also becoming a favorable investment destination and successfully established several multilateral institutions.
The report elaborates that Pakistan is leading the region in digital finance and branch-less banking, e-commerce etc.
The increased usage of mobile phone is no doubt an ultimate indicator of how well the telecom sector is booming in Pakistan. The Government has tried its best to make the internet access more easily available even in the far-flung areas of Pakistan like Gilgit-Baltistan.
Pakistan Tops Asian Telecom Users & Investment Destinations: World Bank Report
The present Pakistani telecom market has successfully attracted many foreign investors and hence became the No. 1 investment destination for them in the South Asian region. The current market is vigorously changing to one while using all varieties of mobile telephony, telecom and ICT related products and services.
The report also highlights that Pakistan is on its way to manufacture or assemble its own products as soon as possible. This production setup will further strengthen Pakistan’s position while making it from least connected to most country in the region.
PCA chairman, Munawwar Iqbal while focusing on local manufacturing said:
“Our proposals will encourage legal import of IT products, remove taxes relating to the Generalized Scheme of Preferences. It will provide the IT industry a level playing filed, reduce consumer prices, and cut down large scale smuggling. If the government agrees to levy a fixed tax on each IT product, it will bring Rs5.5 billion a year in the form of new revenue.”
Other milestones achieved and highlighted by the World Bank report include:
- IT-mobile telephone services and banking are on rise in the country.
- The broadband subscribers have reached to 26 million and the broadband penetration has also increased 3% to more than 15%.
- The arrival of 3G and 4G has positively impacted the economy of Pakistan.