Foreign Investment in Pakistani Telco Crosses $1 Billion

The Foreign Direct Investment (FDI) in Pakistan’s Telecom sector has surpassed $1 billion mark during the last eight months of current financial year to clinch the second coveted position after oil and gas sector in this respect. Presently, five mobile companies, four foreign and one state-run, are in operation in the country, while even this single public sector company is expected to be handed over to the private sector in the wake of privatization this year. Besides, two more new companies would soon be commencing their operations, taking the total of mobile companies in the country to six.