Telecom companies shift $270m abroad in five months

KARACHI: The telecommunication sector that includes mobile phone operators is counted as one of the most stable sectors of business but $270 million has been transferred abroad from this sector too over the past five months, according to the State Bank of Pakistan (SBP) estimates.

From July to November, 2012, investment in this sector has gone down as more capital has been taken out. Experts said that it is strange that the foreign companies are shifting their capital abroad at a time when the economy of the country is in a shambles.

They say one of the reasons for decline in investment in the telecommunication sector is introduction of shuttering technique in networking system that allows companies to have their signals relayed from one tower instead of installing different towers for different companies.