Telecom Sector Reports a Whopping 17% Revenue Growth in FY23

Chairman of the Pakistan Telecommunication Authority (PTA), Maj General (R) Hafeez Ur Rehman HI (M), recently met with the Caretaker Prime Minister of Pakistan, Mr Anwaar-ul-Haq Kakar, to present the Annual Report for the year 2023. This comprehensive report sheds light on the remarkable progress and advancements witnessed in the telecommunications sector over the previous year. According to the report, Telecom Sector reports a whopping 17% revenue growth in FY23.

During the meeting, the Chairman of the PTA underscored the key milestones, innovative initiatives, and strategic interventions implemented by the PTA to enhance connectivity and ensure the delivery of high-quality services to the citizens of Pakistan. The Caretaker Prime Minister commended PTA’s efforts and recognized the pivotal role the authority played in fostering growth and development within the telecom industry. The meeting served as a platform for an insightful discussion on the evolving landscape of telecommunications and its profound impact on the socio-economic fabric of the nation.

Telecom Sector Reports a Whopping 17% Revenue Growth in FY23

According to the report, the telecom sector exhibited robust performance by generating Rs. 850 billion in revenues during FY 2022-23, indicating a substantial growth of 17% despite prevailing economic challenges. Notably, cellular mobile services are now available to 90% of Pakistan’s population. The report also highlights that the number of telecom subscribers reached an impressive 192 million by the end of September 2023, with 130 million of them being broadband subscribers. The figures indicate a considerable expansion in the country’s reach and adoption of telecommunication services. Furthermore, various regulatory measures and initiatives were undertaken throughout the reported year to facilitate the growth and development of the sector.

The Annual Report for the year 2023 stands as a testament to PTA’s unwavering commitment to steering the telecom industry towards digital transformation and aligning it with global standards. The document will be accessible to the public on the PTA website starting Monday, 29th January 2024.

In conclusion, the PTA’s Annual Report showcases the significant achievements and progress made in the telecommunications sector and highlights the authority’s dedication to ensuring that Pakistan remains at the forefront of the rapidly evolving digital landscape.

See Also: Telecom Boom: Pakistan Witnesses Unprecedented Growth in Mobile Imports in First Half