In order to discuss the precautionary measures, the chief executive officer (CEO) VEON Group Kaan Terzioğlu carried out separate meetings with Finance Minister Mifta Ismail and Minister of IT & Telecom Syed Amin-Ul-Haque. The delegation which called on these ministers included Head of Investor Relations Nik Kershaw, a shareholder of VEON Matteo Scolari, and CEO Jazz Aamir Ibrahim. In the meetings, certain factors were taken into light that were threatening the survival of the telecom sector in Pakistan. The present economic conditions and immature policy makings have made this sector suffer a lot over the period of a year.
Digital Emergency In Pakistan-An Alarming situation for Telecom Industry
No doubt, the telecom’s industry financial health has been impacted a lot due to the unexpected rise in the cost of operations such as primary fuel, electricity, interest rates, and constantly increasing dollar rate which affected the spectrum installments as well. Other than this the recent floods in some parts of the country have further exacerbated the issues by damaging digital infrastructure. Things now seem out of control to an extent that the telecom sector is at stake. The telecom sector seeks for removal of permission requirements in order to import telecom equipment to lessen the burden of this sector in such difficult days. They also demanded a reduction of withholding tax from 15 percent to 8 percent on essential telecom services. Over this Miftah Ismail ensured resolving the issues as soon as possible and also requested the telecom sector to keep on providing top-notch services till these issues are resolved. Also Read: Telecom sector imports not being approved by State Bank
