ISLAMABAD: Federal Minister for Finance and Revenue, Miftah Ismail, said on Wednesday Saudi Arabia’s TAWAL, a stc subsidiary, was significant for the development of the telecom sector in Pakistan.
TAWAL announced in February it had entered the Pakistani market through the full acquisition of AWAL Telecom, marking the company’s first International expansion outside the kingdom.
The deal is to see AWAL rebranded as TAWAL Pakistan and form the launchpad of TAWAL’s operations in the country following regulatory approval from Pakistani authorities.
On Wednesday, the Pakistani finance minister met the Chief International Officer (CIO) of TAWAL, Emmanuel Leonard, as well as TAWAL Pakistan Country Manager Juan Pablo Sanchez and Director Pakistan and Country Representative TAWAL KSA in Pakistan, Shah Faisal Safdar Khattak.
“The Finance Minister was apprised about the operations, aim and vision of TAWAL KSA,” a statement from the finance division said.
“It was shared that developing and enhancing the critical telecom infrastructure is key priority of TAWAL and after full acquisition of TAWAL telecom in Pakistan, their company aims at allowing mobile network operators in Pakistan to meet their enhanced coverage and capacity requirements for rapidly growing data demands.”
“Finance Minister Mr. Miftah Ismail appreciated the operational working of TAWAL and acknowledged its value and significance for the development of the telecom sector of Pakistan,” the statement added.
“The Finance Minister assured the delegation that present government aims at providing every possible support for easing the business and facilitating the foreign direct investment in Pakistan.”
Pakistan’s mobile voice and broadband subscriptions have witnessed double-digit growth in recent years, with the expansion of 4G LTE and 5G mobile networks expected to drive its market and revenue growth.
Launched in 2019, TAWAL is a subsidiary of the Saudi telecom giant stc that owns a portfolio of over 15,500 telecom towers in the kingdom.
