Mobilink’s investment to touch $2.5bn mark
KARACHI: Nov 10: With the additional investment of $500 million the total investment made by Mobilink would touch $2.5 billion by the end of 2006. This was stated by Zouhair A Khaliq, president and CEO of Mobilink. “Today, we are one of the largest private foreign direct investor (FDI) in Pakistan and contribute significantly to the national exchequer by way of taxes, duties and royalties.
We are committed to the economic prosperity of the country, provide direct and indirect employment to more than 5,000 people and contribute towards social causes,” Khaliq said in a statement. Despite several hiccups in the quality of its service, the company has maintained a lead in the market by being the first to reach 20 million customers mark. Mobilink’s emphasis in recent months, however, has been on improvement in infrastructure.
The company intends to invest another $500 million imminently to facilitate the rapid increase in network capacity and enhance technological infrastructure to address some of its critical connectivity issues. Last week, Chairman and CEO of Orascom Telecom–the parent company of Mobilink–Mr Naguib Sawiris was in Pakistan recently to receive Tamgha-e-Quaid-Azam. On the occasion he announced his groupÂ’s intention to invest in the tourism sector.