Karachi: An uptick of as many as Rs 5.57 billion investment recorded in Telecom sector in the last five years.
The Ministry of Information Technology and Telecom (IT and Telecom) has issued an economic survey report of fiscal year 2023-2024.
According to the report a large scale hike investment in Telecom sector has been recorded.
The report stated that the investment in the telecom sector during fiscal year 2019 to 2020 was Rs 225 billion. While Rs 325 billion investment was recorded in the financial year 2020-2021.
On the other hand the investment in the telecom sector doubled and climbed to Rs 340 billion in the year 2022-2023.
The telecom sector has experienced a positive development in the internet in the year 2022 to 2023. While mobile users customers surpassed 190 million.
The earning of the telecom industry has increased from Rs 694 billion to Rs 850 billion.
Moreover, 20.3 million mobile equipment were manufactured locally in the year 2023.
Manufacturers of more than 33 mobile and smart devices companies started working in Pakistan.
Meanwhile a rate of internet users surmounted to 54. 97 percent whereas IT services export remittance increased by 36 percent and climbed to 306 million dollars.
On the other hand, the export of IT services remittance was stood at 2205 million
