Google Pay will officially launch in Pakistan on March 12th, marking a major step towards a cashless economy. The platform will integrate with local banks and fintechs, providing a fast, secure way for consumers and businesses to make payments, transfer money, and manage transactions from their smartphones.
Pakistan recorded 21 internet shutdowns in 2024, the highest-ever annual total, highlighting a disturbing rise in digital censorship. These disruptions have significant economic and social consequences, undermining press freedom, damaging the economy, and restricting access to information. Urgent reforms are needed to protect digital rights and ensure continued growth.
Pakistan’s mobile phone imports declined by 7.46% in the first half of FY 2024-25, totaling $733.425 million. While monthly imports showed a slight increase, the year-on-year growth remained negative. Locally manufactured handsets reached 28.43 million, with smartphones accounting for 65% of the market.
Pakistan’s telecom sector generated Rs2.521 trillion in revenue over the past decade, with major operators contributing Rs763.81 billion in taxes. Jazz led the industry, followed by Zong and Nayatel, underscoring the sector’s crucial role in supporting the economy through substantial tax contributions and meeting the country’s communication needs.
Pakistan’s telecom sector faces challenges in its 5G rollout due to a decline in Foreign Direct Investment (FDI) and sector investments. FDI fell to $46 million in 2023-24, and investments dropped to $765 million, hindering the necessary infrastructure upgrades. The PTA emphasizes the need for government incentives and PPPs to boost investor confidence.
Engro Corp, in partnership with Veon, plans to expand telecom tower-sharing coverage in Pakistan. The collaboration aims to enhance telecom infrastructure, explore use cases like electric vehicle charging and drone landing, and capitalize on Pakistan’s improving economic conditions, positioning the country as a more attractive investment market.
