ISLAMABAD (Web desk) – According to figures from the Pakistan Telecommunication Authority (PTI), the telecom industry in Pakistan produced record earnings of Rs 694 billion during the fiscal year 2021–22 as opposed to Rs 651 billion during the same period in 2020–21.
The authority claims that the past quarter’s growth was very sluggish because of the downturn in the economy and rising operating expenses.
In the telecom industry, foreign direct investment (FDI) decreased from $202 million in 2020–21 to $168 million in 2021–22. In the telecom industry, there was $168.4 million in FDI intake, $197.6 million in FDI outflow, and $29.1 million in net FDI.
A significant portion of the sector’s contributions to the national coffers were Rs325.2 billion, of which Rs223 billion came from taxes and the rest Rs102.5 billion came from revenues from the Next Generation Mobile Services (NGMS) auction (Rs30 billion) and licence renewals (Rs72 billion).