With a tremendous increase in mobile phone adoption that has created a strong basis for a digital ecosystem, services, and innovation, Pakistan is currently one of Asia’s top marketplaces. “Infrastructure investments and the growth of mobile broadband services have been the driving forces behind this.
According to Mr. Mikhail Gerchuk, CEO of e& International, the holding company of PTCL Group, “the large and tech-savvy young population represents a considerable consumer base and workforce, opening up enormous opportunities and creating a conducive environment for digital transformation.”
Digital Ecosystem
Mr. Mikhail Gerchuk, a prominent person in Pakistan’s telecom and technology sectors, gave an exclusive interview in which he expressed his perspectives on the enormous potential of the nation, its macroeconomic situation, the growth of the digital Ecosystem economy, and the difficulties encountered by the telecom operators.
Mikhail is upbeat about Pakistan’s potential and reiterates the commitment of his business to assisting it in succeeding by creating digital infrastructure. With a population of almost 240 million people, the majority of whom are under 30, the telecom sector offers a vast array of prospects.
He emphasized that e& International, through PTCL Group, is committed to assisting this growth by investing in and constructing a strong digital infrastructure because he feels that this population provides a chance for the country to become a worldwide success.
Through several initiatives, laws, and programs that support e-commerce, digital financial services, and the growth of a digital ecosystem, the government has also played a crucial role in supporting digital transformation.
According to research, creating digital infrastructure may spur economic expansion and give people the tools to live better lives.
The PTCL Group wants to empower all of Pakistan’s residents, play a significant part in the country’s digital development, and have a beneficial influence on their personal and professional lives.
Like many other nations worldwide, Pakistan has had some macroeconomic difficulties, notably in the previous year. Rapid inflation and currency depreciation have been serious issues affecting the economy.
These elements also affect investments and the return on investments. e& is now the largest foreign investor in Pakistan. Gerchuk also worried about Pakistan’s one of the highest rates of excessive taxes on telecom carriers.
Despite hopes for tax relief throughout the budget cycle, Mr. Gerchuk said none was given. The combination of currency depreciation and high taxes has further limited the telecom sector’s ability to invest in digital infrastructure, resulting in a decline in average revenue per user in dollar terms.
Mikhail also emphasized the need for telecom market consolidation, particularly in light of the four mobile companies in the Pakistani market.
The desire to create a “Digital Pakistan” is a key priority, which puts a lot of pressure on telecom providers in a developing market to spend significantly on digital infrastructure. Gerchuk emphasizes the significance of modernizing infrastructure and communications to bring Pakistan up to par with international norms.
The telecom industry continues to suffer macroeconomic hurdles, but Gerchuk’s steadfast belief in Pakistan’s promise endures. The telecom sector may significantly contribute to Pakistan’s progress towards a more digitally empowered future by focusing on building digital infrastructure and removing barriers.