ISLAMABAD: State Bank of Pakistan (SBP) claimed that telecom companies observed solid growth during the year 2015.
The Annual Report of SBP revealed that mobile phone companies witnessed a solid growth of 69 percent year-on-year (YoY) for data revenues during Jul-Dec 2015 as telecom companies have been increasing their stakes in Pakistan’s telecom market by envisaging a deeper internet penetration targets, after the roll-out of 3G-4G services in the country.
The annual report said that increase in data revenues is likely to continue in the remaining period of FY15, as approximately one million 3G/4G/LTE subscriptions are being added every month since the commercial launch of these services in the country.
Figures were not mentioned in annual report issues by SBP that highlights ‘State of Economy’.
According to the annual report “State of the Economy” published by State Bank of Pakistan, the Telecom sector dominated the outflows, as newer investments are on decline.
As it appears, telecom companies are not reinvesting much, and are repatriating most of their earnings.
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