Islamabad: President Mamnoon Hussain has said that the liberal and investment-friendly policies and economic reforms introduced by the present government have made Pakistan a lucrative destination for both the foreign and domestic investors and have placed the country on the path of economic progress and development.
The President expressed these views during his meeting with a delegation of Vimpelcom Limited, a global provider of telecommunication services headed by its CEO Mr. Jo Lunder, at the Presidency on Thursday.
The delegation included Mr. Augie K. Fabela II, Co-Founder and Chairman Emeritues and Mr. Rashid Khan, CEO & President Mobilink.
Ms. Anusha Rahman, Minister of State for Information Technology, Dr. Miftah Ismail, Special Assistant to Prime Minister and Chairman Board of Investment, Mr. Imran Afzal Cheema, Acting Secretary, Board of Investment, Mr. Azmat Ali Ranjha, Additional Secretary, Ministry of Information Technology and Syed Ismail Shah, Chairman, Pakistan Telecommunication Authority were also present during the meeting.
Chief Executive Officer, Vimpelcom Ltd, Mr. Jo Lunder apprised the President that VimpelCom Ltd is a global provider of telecommunication services and the biggest cellular operator in Russia.
VimpelCom became the first Russian company since 1903 to list shares on the New York Stock Exchange, the CEO informed and said that In Pakistan, VimpelCom Ltd is present by its brand name of Mobilink.
Mr. Augie K. Fabela II, Co-Founder and Chairman Emeritues also briefed about operation, activities and investment of Mobilink in Pakistan.
He said that Mobilink , one of the oldest and largest GSM based cellular operator in Pakistan has the distinction to achieve the status of Significant Market Player (SMP) owing to its largest cellular subscriptions.
Mobilink is the leader in the overall market with respect to its cell sites in Pakistan and is maintaining the largest network coverage in Pakistan, the CEO informed, he continued.
The President said that Pakistan offers ample opportunities for investment in the Telecom sector and that the government accords priority to the development of IT & Telecom sector.
He said that the telecommunication sector has attracted substantial amount of Foreign Direct Investment in the country and expressed hope that the ongoing process of telecom spectrum auction would help generate employment opportunities, promote trade and economic activities and bring in more Foreign Direct Investment in the country besides helping the telecom companies to provide the best cellular services to the customers.
The President said that Pakistan greatly valued Mobilink’s contribution to Pakistan’s economic progress and development of Telecom sector in the country and assured that all possible measures would be taken to provide maximum security and protection to the foreign investors.
CEO Vimpelcom, Mr. Jo Lunder appreciated the Telecom Policy being pursued by the present government which has spurred healthy competition among the leading cellular companies and said that Pakistan telecom sector has great potential and Mobilink(Vimpelcom Subsidiary) intended to expand its network and operations in Pakistan.
Mr. Jo Lunder thanked the President for meeting and reiterated his company’s commitment towards facilitating the people of Pakistan with modern telecom solutions.