Pakistan's telecom sector earns Rs694bn revenues in FY22
Business
Economic slowdown and increased operational costs resulted in rather sluggish growth in Q4
ISLAMABAD (Web Desk) - Telecom sector in Pakistan generated record revenues of Rs694 billion during the financial year 2021-22 compared to Rs 651 billion during the same period of 2020-21, the statistics of the Pakistan Telecommunication Authority (PTI) show.
The authority, however, says economic slowdown and increased operational costs resulted in rather sluggish growth in the last quarter.
The Foreign Direct Investment (FDI) in the telecom sector declined from $202 million in 2020-21 to $168 million in 2021-22. The FDI inflow in the telecom sector was $168.4 million, outflow was $197.6 million, and net FDI was $29.1 million.
The sector substantially contributed Rs325.2 billion to the national kitty, of which Rs223bn were in the form of taxes and the remaining Rs102.5bn billion were proceeds from Next Generation Mobile Services (NGMS) auction (Rs30 billion) and license renewals (Rs72 billion).
