Tuesday, May 13, 2025
No Result
View All Result
The AZB More Than Just News
  • HOME
  • Latest News
  • Business
  • PAKISTAN
  • SPORTS
  • WORLD
  • E-Paper
  • SCI-TECH
  • BANKING
  • ARTICLES
  • OPINION
  • MORE
    • MOBILE
    • TELECOM
    • PERSONALITY
    • HEALTH / EDUCATION
  • HOME
  • Latest News
  • Business
  • PAKISTAN
  • SPORTS
  • WORLD
  • E-Paper
  • SCI-TECH
  • BANKING
  • ARTICLES
  • OPINION
  • MORE
    • MOBILE
    • TELECOM
    • PERSONALITY
    • HEALTH / EDUCATION
No Result
View All Result
Daily The Azb
No Result
View All Result
Home Headline

Telecommunications Industry is the key to the Nation’s Prosperity.

News Desk
June 9, 2023
Telecommunications Industry is the key to the Nation’s Prosperity.
Share on FacebookShare on Twitter

Islamabad 08, 2023: Muhammad Azfar Ahsan, Founder & CEO Nutshell Group; former Minister of State & Chairman Board of Investment (BoI); opined on the urgency of acknowledging the crucial and integral role that the Telecommunications/Cellular industry plays as an enabler for the growth of Pakistan’s economy.

Reiterating the need to highlight the pivotal role of Telecom, especially just before the announcement of the budget, he said; “If Pakistan wishes to benefit the information technology expert market needs to provide growth environment telecommunications industry which is the basics infrastructure of the IT industry. But due to being heavily taxed in the world with GST at 19.5%, additional withholding tax at 15%, and corporate tax at 34%, we have not only hindered the rise of the Telecommunications industry. Which adversely impacted the entire trajectory of the digitization of the economy and IT-related exports. It is important to bring this issue to light and have the stakeholders deliberate on the sheer importance of what needs to be done and how.”

Azfar elaborated on how heavy taxation is hampering growth not only for the Telecom sector but also for Digital, IT, and other related industries. “The future job market is in technologies, including Artificial Intelligence (AI) and Machine Learning (ML), and the Telecom sector provides the most effective infrastructure.”

After the US, UK, and Brazil,  Pakistan is the 4th largest nation in the world contributing to the IT freelancing segment with an encouraging USD 2 billion in the exporter’s club, and Telecom is the vehicle for the route to the membership of billion dollar exporters club.

“Pakistan has about 60% of its population in the 15-29 age group, representing enormous human and knowledge capital. With more than 2,000 IT companies and call centers, 300,000 English-speaking IT professionals with expertise in current and emerging IT products and technologies, 13 Software Technology Parks, and around 20,000 annual IT graduates and engineers, the country’s statistics beg the question: why, pray tell, a meager USD 2 billion of IT exports?”

Pakistan has 5 main players in the Telecommunications industry; together, they have brought ease to the people and growth to businesses, in addition to creating massive employment opportunities, thereby enabling a significant proportion of the population to become worthy contributors to a developing economy. Azfar’s focus, therefore, is on the need for a long-term policy framework, facilitation for investors, and incentives that can lead to ‘4G for all.’

The former Chairman BoI concluded on a rather somber note, that Telecommunications is an integrated and enabling industry, and its decline or collapse will not be an isolated event. It will create a domino effect that may sink many others. Immediate facilitation by the Government of Pakistan, along with a long-term policy framework, will stabilize the Telecom sector and contribute to the overall economic infrastructure of the country.

Pakistan has an opportunity to become the hub of IT and Digital industry exports for this it needs consistent, reliable, strong, and affordable Telecom services. Government must review its taxation policy for the Telecom industry.

News Desk

News Desk

Welcome to our web desk! We're a dedicated team of digital enthusiasts passionate about delivering timely and engaging content to our online audience.

Related Posts

Termez platform – dialogue for ensuring security and stability in Central and South Asia
ARTICLES

Termez platform – dialogue for ensuring security and stability in Central and South Asia

May 12, 2025
In view of the current security situation between Pakistan and India
Headline

In view of the current security situation between Pakistan and India

May 12, 2025
NICVD Inaugurates 29th Chest Pain Unit at Gulshan-e-Hadeed, Karachi
Headline

NICVD Inaugurates 29th Chest Pain Unit at Gulshan-e-Hadeed, Karachi

May 12, 2025
Business

ICAP Holds CFO Conference 2025

May 12, 2025
Obesity termed ‘mother of all non-communicable diseases’; 80% Pakistanis have excessive waistlines, experts warn
Business

Obesity termed ‘mother of all non-communicable diseases’; 80% Pakistanis have excessive waistlines, experts warn

May 12, 2025
JS Bank Launches Pakistan’s First Maternity Insurance Through JS Her
BANKING

JS Bank Launches Pakistan’s First Maternity Insurance Through JS Her

May 12, 2025
Gold price sees massive Rs7000/tola decrease in Pakistan
Headline

Gold Price Falls Sharply by Rs10,400 per Tola in Pakistan

May 12, 2025
Headline

30-Day Drone Ban Enforced in Peshawar Over Security Fears

May 12, 2025
SECP registered 3,024 new companies in November 2024, marking the highest monthly number.
Business

CCP Approves Majority Acquisition of Lotte Chemical by AsiaPak and Montage Oil

May 12, 2025
India’s Baseless Allegations and Reckless Strategic Behavior Demand Global Scrutiny
Headline

Pakistan, India DGMOs to Consult on Way Forward as Border Ceasefire Holds

May 12, 2025
Next Post
Daraz Pakistan to host its first-ever offline Shopping Expo in Lahore.

Daraz Pakistan to host its first-ever offline Shopping Expo in Lahore.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *


Most Popular

Sajal Malik Video Leak Sparks Controversy as Fans and Critics Debate

Zarnab Shastri’s Private Videos Leaked Amid Manahil Malik’s Controversy

Another leak: TikToker Somal Mohsin’s private videos go viral

Another obscene video of Minahil Malik goes viral

Torino Comics Honors Akira Toriyama, Creator of Dragon Ball and Dr. Slump

Must Read

Khushhali Microfinance Bank to Offer Renewable Energy Solutions with Allied Solar
BANKING

Khushhali Microfinance Bank’s Skills Development Program for Women in Mirpurkhas

June 28, 2022
Policies of food authorities fanning crisis.
Headline

Policies of food authorities fanning crisis.

December 1, 2023
The Azb is a 24/7 online news platform that covers a wide range of topics including business, economics, technology, finance, travel, fashion, and lifestyle.

Quick Links

  • Home
  • About us
  • SCI-TECH
  • Live TV
  • Banking

Useful Links

  • Videos
  • Reviews
  • Advertorial
  • Photos
  • About us
  • Author
  • Home
  • Latest News
  • Partner
  • Privacy Policy
  • Russian Theatre Group Celebrates Fifth Anniversary in Pakistan.
  • Terms and Conditions
  • The Azb – More Than Just News
  • Contact

© Copyright 2024 theazb. All Rights Reserved.

No Result
View All Result
  • HOME
  • Latest News
  • Business
  • PAKISTAN
  • SPORTS
  • WORLD
  • E-Paper
  • SCI-TECH
  • BANKING
  • ARTICLES
  • OPINION
  • MORE
    • MOBILE
    • TELECOM
    • PERSONALITY
    • HEALTH / EDUCATION

© Copyright 2024 theazb. All Rights Reserved.