News

Telecom revenue shrinks by 4.1% while telecom indicators rise up in FY21

In recent news, the telecom industry highlighted a recent decline in revenue which was by 4.1 percent to Rs. 541.4 billion in FY21. This was recorded by the State Bank of Pakistan (SBP).

In its annual report based on the country’s economy, it was stated that the communication subsector had contracted despite the recent improvements in the telecom indicators.

Furthermore, the Pakistan Telecommunication Authority had reported that telecom operators had reduced prices to facilitate the public with their service4s. However, this had resulted in even lower revenues which even extended to many facilities and enterprises requesting a temporary suspension of services, discounts, or payments holidays due to the COVID-19 pandemic.

In addition, the telecom sector’s borrowings were mainly concentrated in the last quarter of the fiscal year 2021 where two leading cellular firms operating in the country had borrowed long-term loans in order to expand their network.

Moreover, the increase in online learning and virtual meetings has led to the increased usage of telecom services. The report also stated that Sindh’s revenue performance had remained prominent during the fiscal year 2021.

On the other hand, since the appearance of the China Pakistan Economic Corridor in FY16, large investments into the power sector have primarily arisen from China which has inevitably led to the requirement of the second phase of CPEC while utilizing the current investments and opportunities presented by the special economic zones in order to attract the Foreign Direct Investment (FDI) from China.

Sponsored
Usman Aslam

A tech enthusiast, writer, researcher and strategist working on the latest technologies and making an impact. Usman has been heavily focused on building communities, empowering people through technological trends and advancements for over 3+ years including many notable names such as IEEE Region 10, TEDx, Google Developers, United Nations Programmes, Microsoft Partner Program and much more. Reach out: usman.aslam@techjuice.pk

Leave a Comment
Share
Published by
Usman Aslam

Recent Posts

Microsoft Launches AI-Powered “Support Virtual Agent” for Xbox Users

Microsoft has launched its AI-powered “Support Virtual Agent” chatbot for Xbox Insiders in the U.S.,…

4 hours ago

Musk Says Tesla Won’t Enter Smartphone Market Unless Necessary

Android Authority recently polled its users to find out if they would purchase a Tesla…

4 hours ago

Sukkur IBA Sets Seven Conditions for Conducting MDCAT

The Secretary of the Sukkur IBA Testing Agency has formally requested urgent action from the…

4 hours ago

PSEB Opens Bidding for Nationwide e-Rozgar Centers

The Pakistan Software Export Board (PSEB) has launched a nationwide program to encourage IT startups…

5 hours ago

Google Play Services Bug Disrupts Access to Apps for Pixel Users: Here’s How to Fix It

A significant issue with Google Play Services has left many Pixel users unable to access…

5 hours ago

WhatsApp Beta Partners with Google for Innovative Image Search Feature

When it comes to Android messaging apps, WhatsApp stands out as one of the best.…

5 hours ago