Warid to inject $1 billion fresh investment in 2006-07 -Pakistan Press Foundation (PPF)

Paksitan Press Foundtion

Warid to inject $1 billion fresh investment in 2006-07

KARACHI, May 11 2006: Warid Telecom is all set to inject $1 billion as fresh investment into its network in Pakistan by the end of the year 2006-07, while the company has also obtained license for the launch of its ‘roaming operations’ in Bangladesh,” Naveed Saeed, General Manager, Sales and Marketing Warid Telecom, told reporters at a press conference held to commemorate its first anniversary at a hotel here on May 10.

“We intend to invest one billion US dollars during 2006-07 for expansion and up gradation of our network across the country,” he said, adding that Warid Telecom has acquired license for the launch of its roaming operations in Bangladesh recently. Naveed said that the company was following an aggressive marketing and expansion strategy under which it would expand its roaming services to African countries as well because it wants to show its presence on the global front.

“Our seriousness towards telecom sector is evident from the fact that our sister concern companies, Wateen Telecom and Wateen STN, are supporting and working to enhance the capabilities of Warid’s cellular network all over the country,” he said. “Wateen Telecom is currently engaged in laying the biggest optical fiber cable in the country that would cost around $70 million and the cable would cover the area, with 5000 km in length,” he added. Naveed said that the company is interested to expand its roaming services to India, and dialogues “are currently underway” to check the security concerns, besides other issues.

He said that Warid Telecom has recently acquired world class technology for data transmission and soon the data transfer speed in the company’s network would be 3.5 GHz per second, while the subscribers would get the speed of 1MB per second. Regarding the current status of the development of Mobile Number Portability (MNP), he said that the facility would have to be implemented. However, all cellular companies are working on the proposals.

The Warid official said that the number of subscribers of Warid Telecom has significantly increased and reached up to 4 million, out of 27 million aggregate subscribers. However, the company was eyeing to achieve the target of 10 million subscribers by the end of 2006. “We have so far attracted 4 million subscribers towards Warid’s network due to improved and quality service, and we are currently enjoying the market share of over 10 percent,” he said.

On this occasion, Manager Public Relations, Farah Hussain, said, “Warid Rewards would give Warid post-paid and prepaid customers a one-off chance to win world’s most luxurious cars through a lucky draw that would be held on its first anniversary i.e. on May 23, 2006.”
Source: B. Recorder
Date:5/11/2006