Jazz, IT minister discuss investment

ISLAMABAD: Caretaker IT Minister Umar Saif and the group chief executive officer of VEON, the parent company of Jazz Pakistan, met on Wednesday to discuss the company’s plans and the challenges facing the country’s telecom industry, primarily a high cost of doing business.

Mr Saif said on X, formerly Twitter, that the discussion focused on four issues, including instalments-based smartphones in Pakistan, the role of Jazz in financial inclusion and moving towards a cashless economy, upcoming spectrum auction and the 5G rollout, and value-added services for citizens with innovative investments in EdTech, AgriTech and FinTech.

During the meeting, the minister stressed that providg citizens with quality telecom services was the government’s topmost priority.

VEON CEO Kaan Terzioglu, who was accompanied by Jazz CEO Aamir Ibrahim and other VEON officials, presented a comprehensive overview of Jazz’s substantial investments in Pakistan, surpassing $10.6 billion.

These investments focus on advancing the country’s digital infrastructure, including mobile broadband expansion, fintech JazzCash, cloud and cybersecurity platform Garaj, and various digital lifestyle services like Tamasha and BiP.

The delegation pointed out several challenges facing the telecom sector and emphasised that resolving these issues was crucial for realising Pakistan’s potential for attracting international investments and accelerating the integration of future technologies.

The caretaker minister was informed that Pakistan had the lowest global average revenue per user (ARPU), a high taxation environment, and a significant increase in business costs, especially due to the soaring dollar-pegged spectrum prices.