Recent Financial News in the 'tech-comm' category
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Tuesday, August 26 2025
Senate panel questions tariff hike by Jazz
The Senate Standing Committee on Information Technology and Telecommunication was informed on Monday that there was no evidence of cartelisation in Pakistan’s telecom sector. The committee sought clarification from the Pakistan Telecommunication Authority (PTA) regarding an audit report related to a tariff increase by the country’s largest telecom company, Jazz.
PTA Chairman retired Major General Hafeez Ur Rehman assured the committee that no cartelisation had been allowed within the sector. As the significant market player (SMP), Jazz must seek approval from the PTA before making any changes to its tariff rates, he explained.
Senator Palwasha Khan, chairperson of the committee, questioned how Jazz had managed to collect over Rs6 billion more from its customers. In response, Rehman clarified that Jazz had raised its tariffs by 19pc in 2024, but this increase was regulated by the PTA to maintain market balance.
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IT exports hit record $354m in July
Pakistan’s IT exports reached an all-time high of $354 million in July, marking a 24 per cent year-on-year (YoY) and a 5pc month-on-month (MoM) rise.
This figure surpasses the 12-month average of $317m, highlighting the sector’s growth.
Sani Irfan of Topline Securities noted that export proceeds per day for July stood at $15.4m, compared to $17.8m in June. The overall increase was largely driven by the growth in computer services, which rose 10pc MoM to $311m. Software consultancy exports, in particular, saw a notable increase, growing to $104m in July from $96m in June.
Irfan attributed the YoY growth to various factors, including the expansion of IT companies’ client bases globally, especially in the GCC region. She also highlighted the relaxation in the permissible retention limit by the State Bank of Pakistan (SBP), which increased from 35pc to 50pc in Exporters’ Specialized Foreign Currency Accounts. The allowance for equity investment abroad using these accounts and the stability of the Pakistani rupee encouraged IT exporters to bring a higher portion of their profits back to Pakistan.
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Friday, August 22 2025
Senate panel to probe telecom overcharging
It is not only Jazz that has massively overcharged consumers, other telecom service providers have also pocketed billions and the matter has now landed in a Senate panel for investigation.
The Senate Standing Committee on Information Technology and Telecommunication has called an urgent meeting on August 25 to probe the issue. Earlier, it was reported that Jazz had overcharged its consumers Rs6.8 billion. The Auditor General of Pakistan has also pointed out irregular practices by Zong and Pakistan Telecommunication Company Limited (PTCL).
According to the audit findings, the national exchequer suffered a loss of Rs18 billion due to the alleged illegal use of additional radio frequency spectrum by Zong. The Frequency Allocation Board (FAB) had allocated a temporary compensatory frequency to China Mobile Pakistan Ltd (Zong) during its 30th board meeting on September 8, 2007 to address cross-border interference from Indian CDMA networks that disrupted Zong services in Punjab and Sindh border areas.
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Thursday, August 21 2025
Telecos under scrutiny for mismanagement
The latest Auditor General (AG) report has raised serious concerns over massive violations in the telecom sector, including misconduct by state-owned PTCL and the Special Communications Organisation (SCO).
The report also reveals that Jazz, the country’s largest telecom operator, overcharged consumers by Rs6.58bn during 2023-24.
The report highlights that despite multiple directives from the Supreme Court of Pakistan, the Public Accounts Committee (PAC), and repeated requests from the Auditor-General, PTCL has refused to open its accounts for audit.
Several objections were raised in the audit paras of regulatory bodies such as the Universal Service Fund (USF) and the Frequency Allocation Board, where PTCL was found guilty of failing to pay its dues and committing various financial irregularities.
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Friday, August 08 2025
GSMA warns stalled digital growth risks investment
GSMA, a global organisation representing mobile operators and entities across the mobile ecosystem and adjacent industries, has warned that Pakistan, despite having talent, ambition, and a vision for ‘Digital Pakistan’, risks falling behind regional peers unless urgent reforms are introduced in telecom policy — a delay that could drive away investors and ultimately harm consumers.
Julian Gorman, Head of Asia Pacific at GSMA, told the media on Thursday after the ‘GSMA Digital Nation Summit 2025’ that the country’s telecom sector suffers from excessive taxation, limited spectrum availability, and a lack of long-term policy direction.
He noted that reforming telecom taxation was possible, even under an IMF programme, citing Argentina as an example. “If urgent reforms are not enacted, investors will shift to other markets. Similarly, freelancers — a vital segment of Pakistan’s workforce — cannot thrive without reliable internet and electricity,” he added.
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