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Telecom sector: Saudi investors keen to invest $200 million

Saudi Arabian telecom companies have expressed interests in acquisition of Pakistan telecom companies and want to invest about $200 million in the sector, said State Minister for Information Technology and Telecom Anusha Rahman.

The National Technology Group (NTG) of Saudi Arabia and IT ministry of Pakistan Monday arranged a meeting where about 50 telecom companies met. "Saudi investors are very keen to acquire IT companies of Pakistan and will come up with a list of 15-20 companies for acquisition," said the minister while addressing at the "Pakistan Mobile App Awards 2015" organized by Pakistan Telecommunication Authority (PTA). Saudi investors are talking about $200 million they want to invest in Pakistan. This is very encouraging sign and shows the government pro-investment policies for giving new vision of IT sector.

The minister further said that the proposed telecom policy envisaged increase in telecom revenue to Rs 800 billion in next five years. "Telecom policy is being formulated in consultation with all stakeholders and expected to raise telecom revenue to Rs 800 billion by 2020 and Rs 1,200 billion by 2025."

Chairman PTA Dr Syed Ismail Shah, Member (Finance) PTA Tariq Sultan and Member (Compliance & Enforcement) Abdul Samad were also present on the occasion where awards were conferred with cash prizes on the winners of "Pakistan Mobile App Awards 2015."

The minister said that implementation of the telecom policy would have far reaching impacts on economy and according to a conservative estimate telecom services will contribute up to 1.74 percent in the overall GDP of the country by 2025. The active export of the telecom sector is about $1.4 billion and efforts are being made to enhance it to $4 billion by 2020.

Anusha Rahman said PTA has taken the initiative proactively which must be appreciated and followed by the whole telecom industry especially by the operators to take maximum advantage from the innovative development work of these young innovators. She assured of the effective utilisation of these applications by the related organisation. She said that this initiative would go a long way in developing a strong relationship between the academia, industry and the relevant government organisations and would turn out to be exemplary for the rest of the sectors of the economy. The minister said that the government is more focused on the development of IT sector. Life is gone from voice to data and it is government job through Public Private Partnership to create opportunities for the young talented generation. It is the responsibility and duty of the government to ensure and continue to provide such platforms for the talent to come forward. These applications must now be put to use for commercial purpose in collaboration with private sectors. That is something incentivises others to come forward. IT is the key player for the economic development of the country. The government is also establishing telecenters in different areas of the country especially in rural areas. This year 2015 is also declared the year of IT and the ministry is starting 09 IT projects of Rs 20 billion in Khyber Pakhtunkhawa and Balochistan, Anusha added.

Chairman PTA Dr Syed Ismail Shah said that PTA believes in harmonised efforts for the uplift of ICT Industry of Pakistan as it looks forward to carrying out significant projects in partnership with the operators and solution providers in the future as well. The Pakistan Mobile App Awards is to bridge the gap between industry, academia and the regulator" Chairman further added.

The awards were given in two categories. In Students' category the 1st position was won by students of International Islamic University Rabia Jabbar and Humna Shaheen for developing the Pre-School Champs mobile application whereas the 2nd position award was won by the student of Military College of Signals Waqas Ajmal and his team for developing the Catch the BUS mobile application. In professional category, 1st position was won by Hassan Baig and his team for developing the internet tutor app whereas 2nd position in professional category was won by Dr Hammad M. Cheema and his team for developing the OMNES app in the security domain. During the ceremony PTA also appreciated the efforts of two talented Pakistani individuals Iram Tariq Bhatti and Shahryar Khan for their achievements at the international level and awards were given to them to recognise the achievements.



Source: http://www.brecorder.com/top-stories/0/1180519/

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