Telenor Reports 2.80% Increase in Revenue During Q4 2020
Telenor Pakistan announced its financial results for the fourth quarter ended on December 31st, 2020.
The company reported an increase of 2.80% (in local currency) in revenues as they reached Rs. 26 billion during Q4 2020, up from Rs. 25.3 billion during the same period last year.
Telenor’s mobile customer base increased by 1 million subscribers and the improving revenues trend continued. The company said that the subscription and traffic revenues remained stable.
With this, 47 million subscriber mark was crossed which lifted the subscriber base to a 4.08% higher level than last year.
The improved subscription and traffic revenue development led to an increase in the gross profits of the company.
87% of Pakistanis Have Internet Access: PTA
The Pakistan Telecommunication Authority (PTA) has claimed that Internet services are available to 87 percent of the population in Pakistan at the lowest rates in the region.
The demand for Internet services grew immensely in Pakistan during the lockdown in 2020 due to increased use of social media and communications applications, video streaming, and online sessions. However, the quality of the services remains comprised and has been termed as ‘poor’ in many areas by users.
Reportedly, a supportive regulatory environment, effective competition, the presence of innovative international telecom operators, and the continued resolve of the regulator to harness advanced technologies has resulted in widespread availability of Internet services to over 87 percent of the population at one of the lowest rates in the region; and mobile data prices have declined by only 0.70 percent of the Gross National Income (GNI) per capita, which is well
Pakistan has announced a new government-run instant digital payment system in a bid to boost financial inclusion and government revenue in the country where only a fraction of economic transactions occur on the books.
ISLAMABAD: The government’s goal of a Digital Pakistan is coming to life, with the ministry playing a pro-active role in developing a conducive environment for ever-changing technological needs, Minister for Information Technology and Telecommunication Syed Amin Ul Haque said on Thursday.
Speaking at the launch of the 2021 Tech Trend report, Mr Haque who was the chief guest on the occasion said the new “Right of Way” (ROW) policy for the telecom sector will help enhance the sector expand its outreach. The ROW policy will also help remove hurdles faced by telecom and internet service providers in the installation and maintenance of their equipment, he added.
Telcos Earned Rs. 537.2 Billion and Contributed Taxes of Rs. 137 Billion in FY2020: PTA
The Telecom sector in Pakistan withstood the impact of COVID-19 and showed sustainable revenues of Rs. 537.2 billion in the fiscal year 2019-20 (FY2020) as compared to Rs. 550.4 billion in FY2019.
The sector also made a significant contribution of $622.5 million (24 percent) to the total net Foreign Direct Investment (FDI) in the country. This was revealed by the Annual Report 2020 released by the Pakistan Telecommunication Authority (PTA) on Thursday.
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The sector’s contribution to the national exchequer also increased by 129 percent (Rs. 278.4 billion), owing to deposits of $687.8 million by Cellular Mobile Operators (CMOs) under license and spectrum renewal fee and a substantial increase in General Sales Tax (GST) and Withholding Tax (WHT), which remained suspended last year on the directions of the Honorable Supreme Court of Pakistan.