Investment in IT industry goes up at $5.138b

STAFF REPORT ISB: IT investment in Pakistan has risen to $5.138 billion as the sector is moving on a fast track.

The Pakistan Telecom Authority and the five key companies operating in the country say “a large portion of this investment inflow is from foreign investors ranging from the UAE to Egypt, the US and China, among others”.

The amount includes investment made between FY-2010 and end-2015. A good year for investment was FY-2014 when the amount was $1,815.6 million and $851.6 million in FY-2015, in the wake of the 3G and 4G launch.

Khurrum Mehran, Director PTA, said that “as a result of this launch the number of its subscribers rose swiftly to 26 million and the broadband penetration has gone up from less than three per cent to 15 per cent by now.”

Minister of State for ITandT Anusha Rehman is an aggressive and fast-moving minister to attract foreign investment for this sector.

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