According to a forecast released by Pakistan Credit Rating Agency, revenue growth in the telecom sector would climb by 8% by the end of FY2022. By the end of this year, the telecom industry would have grown by Rs51 billion to Rs695 billion, compared to FY 2021. In Pakistan, the proliferation of 3G, 4G, and 5G services has contributed significantly to revenue growth.
Telecom Sector to Show 8 percent Growth in 2022
Pakistan’s government is working to spread 5G services across the country. As a result, the government intends to strengthen the ICT industry by improving consumer welfare, creative entrepreneurship, and startup opportunities. However, some industry insiders believe that “for at least the next two years, Pakistan’s infrastructure was not ready for it.”
A lot of Pakistanis do not have access to any form of mobile or telecom services, which is also a well-known fact. In Pakistan, half of the population does not have access to the internet. The next huge factor is cost. Only a tiny percentage of the population in the nation can afford 5G devices. Every Pakistani must switch to 4G service initially.
In Pakistan, about 98 percent of homes have access to a cell phone. At the end of February 2022, however, mobile service penetration was 88 percent. In Pakistan, the number of 3G/4G customers has hit 113 million.
With a market share of 39% among all telecom companies in the country, Jazz is the industry leader in 4G customers. By the end of February 2022, Zong will be in the second position, with a 30% market share.
By February 2022, overall borrowings in the industry had grown to Rs180 billion, up 29% from Rs140 billion, according to the report.
