ISLAMABAD, Pakistan: The Chief Executive Officer (CEO) of Telenor Pakistan Irfan Wahab Khan met the Prime Minister’s Adviser on Finance and Revenue Dr. Abdul Hafeez Shaikh at the Finance Division in Islamabad on Thursday.
The CEO briefed the adviser about the brief history and services of the Company and expressed the intention to increase the Company’s investment in the Country with help and assistance from the government.
Irfan Wahab briefed that this week they have received additional Capital of Rs 7.4 billion (US$ 45 million) into Telenor Microfinance Bank from Ant Financial and Telenor.
This brings the total Foreign Direct Investment (FDI) to US$ 185 million in the last two years alone as equity injection into Telenor Bank/Easypaisa to grow Pakistan’s digital payment ecosystem.
The CEO of Telenor Pakistan also shared that the Telecom Sector has an investment potential of about US$ 1 billion which can be tapped.
The CEO gave a briefing on his plans to improve and provide latest telecommunication services in Azad Jammu and Kashmir (AJK) and Gilgit-Baltistan.
Irfan Wahab Khan said that during the Coronavirus pandemic, the use of IT services has helped the economy in a positive way but as the resources of the people are shrinking they are also optimizing. He requested the adviser to grant certain concessions for the further growth of the Sector.
The CEO requested that in view of the ongoing economic situation of businesses in the Country, the Federal Board of Revenue (FBR) may be asked to rationalize the withholding tax/GST on telecommunication services.
Irfan Wahab also requested that the issue of SIM Issuance Tax may be settled out of Court to bring on an amicable end to this matter.
Other issues regarding the renewal of licenses were also discussed.
The adviser appreciated the contribution of the telecom sector in the development of the country and said it is an important sector which is helping the people in many ways; from job creation to communication and in providing digital access to financial services.
Abdul Hafeez Shaikh assured all possible help and support for the Telecom Sector for the prosperity of the Country and the industry.