As the case with other areas of the economic system, things are not easy to deal with for Nawaz Govt in telecommunications industry as well where much needed international immediate economical dedication (FDI) is disappearing on reliable foundation.
According to a review, the outgoing financial year of 2012-2013 has knowledgeable a net output of FDI to the level of $ 390.9 million. During July to May, the influx of FDI was documented as $ 157 million whereas the output was standing at $ 547.5 million.
Due to difficult situation and low result on investment dedication in addition to law and order situation, many telecommunications companies have offloaded their stocks in the local market, as exposed by the information.
Only in May 2013, the net output was $ 55 million.
During the same period in the year before, the net output of FDI was documented as $ 343.8 million as influx was $ 146.7 million and outflows were $ 490.5 million .
The image clearly reveals that investor is shy of creating in financial commitment in Pakistan. On the other hand, taxing the mobile phones have also affected the import figures in Apr to May. A rise in tax in Apr triggered the imports to decrease by 46% creating the import figure $ 69.82 million in April-May against the $ 128.58 million import in February-March 2013.
According to research exposed by Pakistan Bureau of Statistics, overall telecommunications imports dropped by 9.46 percent in May as the industry documented $ 81.3 million against $ 89.8 million in Apr 2013.
Under existing tax framework and telecommunications plan, it has become a huge task for the government to entice international traders for the auction of 3G spectrum which PML-N government plans to sell in few month time after the consultation of Chairman PTA and rest of the two members of the authority.
Recent Comments