There is a digital emergency in Pakistan as a result of the country’s increasing economic instability in the telecom sector. In light of this, senior telecom officials have requested quick policy changes from the government in order to boost digital inclusion in Pakistan and to protect and secure the telecom and technology sector’s existence.
The chief executive officer (CEO) of VEON Group Kaan Terziolu had separate meetings with the ministers of finance Mifta Ismail and information technology and telecommunications Syed Amin-Ul-Haque to discuss the preventative measures. VEON shareholder Matteo Scolari, CEO Jazz Aamir Ibrahim, and Head of Investor Relations Nik Kershaw were among the delegation that met with these politicians.
A few issues that threatened Pakistan’s telecom industry’s viability were brought up in the discussions. Over the course of a year, this industry has suffered greatly due to the current economic climate and immature policy decisions.
The unanticipated increase in operating expenses, including those for main fuel, electricity, interest rates, and the steadily rising dollar rate, which also affected the payments for spectrum, has undoubtedly had a significant influence on the financial health of the telecom sector. In addition, the recent floods in some regions of the nation have made matters worse by harming the nation’s digital infrastructure. The telecom industry appears to be in danger right now because things have gotten so out of hand.
To alleviate the strain on this industry in these challenging times, the telecom sector wants to remove the need for permits to import telecom equipment. They also asked that the withholding tax on necessary communication services be lowered from 15% to 8%.
Miftah Ismail promised to repair the problems as quickly as possible and urged the telecom industry to continue offering top-notch services until they are fixed.
To read our blog on “PTA sets Three goals for Cyber Security in the Telecom sector,” click here