Press Releases

01
April 2010

Telenor Group invests USD 80 million into Telenor Pakistan

Islamabad. 1st April 2010. Telenor Group, the largest European investor in Pakistan, has further invested USD 80 million into Telenor Pakistan. The investment is one of the largest made by any telecommunications company in Pakistan in the current fiscal year.

Chief Strategy Officer and Vice President Corporate Affairs, Aamir Ibrahim while talking about the investment said, This continuous stream of investment from Telenor reinforces our long-term commitment to Pakistan and shows confidence in future growth in the telecom sector. The investment will contribute to the development of our infrastructure and expansion of our services.

The investment from the Group is going to be utilized for various ongoing and upcoming projects like network expansion, improved customer services, and more aggressive roll-out of financial services.

Telenor Pakistan is the second largest mobile operator in Pakistan with a subscriber base of 22.6 million and market share of 23.7% in the telecom sector. The company has an extensive distribution network with over 250 Franchises and 175,000 retailers. In Nov 2008, Telenor Pakistan acquired Tameer Microfinance Bank and launched easypaisa - mobile banking services in October 2009. Since its inception in Pakistan in 2004, Telenor Pakistan has created 2,500 direct and over 25,000- indirect jobs and was recently rated Pakistan Most preferred Employer. Telenor Pakistan has contributed approximately PKR 20 billion in various forms of direct and indirect taxes in 2009.

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