Pakistan seeks FDI in 3G auction, technology parks

Islamabad, Nov 18: Pakistan Prime Minister Muhammad Nawaz Sharif Monday invited foreign direct investment in the upcoming spectrum auction in his country for next generation mobile services and establishment of technology parks.

"We invite foreign companies to be our partners in harnessing the rich potential of our country that is open for business and keen on working with international investors," the Associated Press of Pakistan quoted Sharif as saying in his key-note address at the Connect Asia Pacific Summit 2013, which began in Bangkok Monday morning.

The prime minister said the government of Pakistan was committed to accelerated digitization of the country to enable socio-economic development, creating a knowledge-based economy and promoting economic growth.

He said Pakistan accorded the highest priority to development of information communication technology (ICT) for for providing quality services, education, employment and women empowerment.

Sharif said Pakistan's telecom infrastructure comprised over 125 million mobile connections, about three million fixed lines, three million WLL subscribers, 19.8 million internet users, 15.7 million mobile internet users, and 2.8 million broadband subscribers.

The prime minister said with the population of 180 million, Pakistan was strategically located on the crossroads of south and central Asia and the energy-rich Middle East.

He said Pakistan offered 100 percent equity ownership, full repatriation of capital and dividends and income tax exemption on IT exports until 2016.

IANS