Foreign direct investment in telecom sector exceeded 1.2b dollars

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IT minister inaugurates ITCN Asia’s exhibition

Minister for Information Technology and Telecommunication Syed Amin-ul-Haque inaugurated a three-day global ITCN Asia exhibition here on Thursday.

Speaking on the occasion the minister said that the foreign direct investment in the telecom sector has exceeded 1.2 billion dollars.

While the Telecom revenue was Rs 605 billion in August 2018, which reached Rs 694 billion by December 2022 with an increase of Rs 89 billion, he added.

The minister said, “The total volume of the telecom industry has reached 16.9 billion million dollars.”

He said about 19.7 mobile phones and smart devices are locally manufactured and due to local manufacturing, the import of mobile and smart devices has decreased from 10.26 million to a record level of 1.37 million.

He said that as of August 2018, the number of active SIMs in the country was 152.4 million, which reached 192.7 million by December 2022.

The number of broadband subscribers reached 124 million while the broadband penetration was recorded at 56.00 percent, he added.

He said that National Information Technology Board is playing an active role in implementing e-governance programs and during the last 4 years, the NITB developed and launched more than 31 portals and more than 15 mobile applications.

He said under the paperless track program, NITB ensured the implementation of e-office in 40 ministries and over 100 departments.

He said eight incubation centers of ignite have created an entrepreneurial vibe in the country which is helping in establishing new startups in almost every sector.

The minister said start-ups of the National Incubation Centers established in the country, received an investment of $20 million from various sources last year.

Under the National, Freelance Training Program initiated and funded by the Ministry of IT, as many as 20 training centers were established across the country.

As many 8,647 graduates, he said, were trained through International standard IT courses, and these students contributed to the country’s economy by earning $23 million through freelancing after training.—APP