Telecom Industry Report 2023: PTA Says All is Well

Staff Report

Amid the challenges faced by the telecom industry, the Pakistan Telecommunication Authority (PTA) has informed the Prime Minister that the sector made significant progress according to the telecom industry report 2023.

Chairman of the Pakistan Telecommunication Authority (PTA), Maj General (R) Hafeez Ur Rehman HI (M), presented PTA’s Annual Report for the year 2023 to the Caretaker Prime Minister of Pakistan, Mr. Anwaar-ul-Haq Kakar.

According to industry analysts, the telecom sector’s revenue for companies and foreign investors declined from $4.84 billion in 2018 to $3.03 billion in 2023. Fact-Check: TikTok to Uphold Election Integrity in Pakistan

The industry is grappling with a high cost of business, including increased energy costs, interest rate hikes, and dollar-denominated spectrum installments.

Additionally, Pakistan raised its corporate income tax from 29% to 33% in 2022, reaching an aggregated all-time high of 39%.

The telecom industry has actively sought policy interventions to enhance its health and safeguard operations.

Unfortunately, analysts believe that governments and policymakers have ignored warnings about a digital emergency, leading to the departure of Telenor, one of the most well-organized telecom groups globally.

Telenor’s exit is seen as a consequence of a policy environment failure, requiring immediate introspection.

According to a statement from PTA, the report summarizes the progress and advancements in the telecommunications industry in the preceding year.

Chairman PTA highlighted key milestones, innovative initiatives, and strategic interventions to enhance connectivity and provide high-quality services to Pakistan’s citizens.

The Caretaker Prime Minister commended PTA’s efforts, acknowledging its pivotal role in fostering growth and development within the telecom industry.

The meeting provided a platform for insightful discussion on the evolving telecommunications landscape and its impact on the socio-economic fabric of the nation.

The report reveals that the telecom sector generated Rs. 850 billion in revenues in FY 2022-23, showing a 17% growth despite economic challenges.

Cellular mobile services are available to 90% of Pakistan’s population, with 192 million telecom subscribers and 130 million broadband subscribers as of September 2023.

Regulatory measures and initiatives were implemented for sector growth.

The Annual Report 2023 demonstrates PTA’s commitment to steering the telecom industry toward digital transformation and aligning it with global standards.

The report will be available on the PTA website on Monday, 29th January 2024.