ISLAMABAD: Prime Minister Shehbaz Sharif instructed Pakistan’s top investment facilitation body to set up six country- and region-specific desks, including one solely focused on Saudi Arabia, while presiding over a meeting on Saturday that concentrated on progress related to economic collaboration with friendly nations.
Last year, the country established the Special Investment Facilitation Council (SIFC), a civil-military hybrid body designed to oversee foreign financing, to help overcome its prolonged economic turmoil that has forced successive administrations to seek financial assistance from global lenders and close allies.
Pakistani officials have primarily focused on Gulf countries since the inception of SIFC, briefing governments and businesses about investment opportunities available across various economic sectors in their country, including areas like agriculture, mining and information technology.
Following the announcement of a $10 billion investment from the United Arab Emirates (UAE) during Sharif’s daylong visit to Abu Dhabi on Thursday, Pakistan expects to receive substantial investments from the region.
“The prime minister has announced that the SIFC will have a China desk, a UAE desk, a Saudi desk, a Qatar desk, a European Union desk and a United States of America desk,” Federal Minister for Information Attaullah Tarar told the media after the meeting.
“The prime minister has formally announced these six desks to promote trade and investment,” he added. “It was a historic meeting whose fruits will become visible in the coming days.”
An official statement issued after the meeting said the SIFC appreciated the recent upsurge in trade and investment related engagements under government-to-government and business-to-business frameworks, directing concerned ministries for efficient follow-ups.
It instructed the participants to make every effort to transform the commitments received from friendly countries into tangible projects and economic dividends at a fast pace.
The meeting reviewed progress on the privatization of state-owned enterprises, expressing satisfaction over the ongoing process and urging the timely accomplishment of various milestones in collaboration with relevant stakeholders.
Pakistan’s investment body to set up six country-specific desks, including one for Saudi Arabia
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Pakistan’s investment body to set up six country-specific desks, including one for Saudi Arabia
- SIFC reviews progress related to trade and investment with friendly nations in a meeting presided by PM Sharif
- The meeting also evaluates progress on the privatization of state-owned entities, instructs timely implementation
Pakistan sells 480MHz for $507 million in 5G spectrum auction
- Mobile network operator Jazz buys 190 MHz, Ufone 180MHz and Zong 110MHz, says telecom authority chairman
- Most mobile networks in Pakistan currently operate on fourth-generation (4G) infrastructure, while 5G rollout has faced delays
ISLAMABAD: Pakistan has sold 480 megahertz (MHz) of fifth-generation (5G) telecom spectrum for $507 million, the Pakistan Telecommunication Authority (PTA) confirmed after a live auction on Tuesday, marking a key step toward introducing faster mobile broadband.
The live auction was organized by the PTA to determine which telecom operators would acquire the frequencies needed to deploy 5G mobile networks across Pakistan.
Pakistan, a country of over 240 million people, is one of the world’s largest telecom markets by population, with over 190 million mobile phone users. However, most networks currently operate on fourth-generation (4G) infrastructure, and the rollout of 5G has faced delays in recent years due to regulatory, economic and spectrum-allocation challenges.
“In total out of 595 MHz, 480 MHz spectrum has been sold today,” PTA Chairman Hafeez-ur-Rehman said in a speech aired on state media. “This is a very big achievement and a big victory for Pakistan, in my opinion.”
Chinese mobile operator Zong bought 110 MHz of the 5G spectrum, while Ufone bought 180 MHz and Veon-backed firm Jazz bought 190 MHz, Rehman announced.
“And the price in total for this is $507 million,” the PTA chairman said.
According to officials, 5G services are expected to be rolled out first in Islamabad, Lahore, Karachi, Peshawar and Quetta cities, before expanding nationwide as network infrastructure develops.
Information Technology Minister Shaza Fatima Khawaja has previously said the government is also encouraging wider adoption of 5G-compatible devices, noting that about 95 percent of mobile phones used in
Pakistan are locally manufactured, while premium models such as iPhones and Google Pixel devices are imported.
Officials say Pakistan currently uses around 274 megahertz of spectrum, much of it allocated decades ago, while the new auction will make 600 megahertz of spectrum available for next-generation services.
Under the government’s rollout plan, telecom operators are expected to add roughly 3,000 new network sites annually to support the expansion of 5G services.
PTA officials say Pakistan currently offers some of the world’s cheapest mobile data services and have pledged that consumer protection will remain a priority as the country moves toward next-generation connectivity.
