Imran Khan, former Captain of World Cup Cricket Champions,former President, rapidly going blind in a Pakistani jail - from neglect. A man who built & funded a first class cancer hospital that charged patients from all over the country ONLY what they could afford for amazing care.
It's hard to be Pakistani, because you have to fight the world. But it's harder not to be Pakistani, because you have to fight the Pakistani.
-- Turkish Proverb 💚🇵🇰
The long-anticipated news of @PTCLOfficial acquisition of @telenorpakistan is finally out. This is big news for the industry and will definitely have long-lasting, (hopefully, positive) implications for the country and customers.
- Mergers and Acquisitions (M&A) are a common phenomenon in the business world. In-market consolidation is not necessarily bad news. Even large markets like India, China, and the USA are served by three main telecom operators. Duplicating expensive infrastructure costs (especially those based in USD, which consume our foreign exchange) is not a good idea.
- However, with PTCL being 62% government-owned and 12% publicly owned, this acquisition seems more like nationalization as opposed to foreign direct investment, which is what the government has been trying to promote.
- One must ask why the two foreign entrants in Pakistan in 2004 have been forced to exit (Warid in 2016 and Telenor in 2023). Collectively, they invested over $5 billion into Pakistan but couldn't justify continuing operations. Is it the market or our policies (like dollar-based spectrum prices, exorbitant taxation, long drawn endless litigation process, etc.)? What messages does it send to future investors?
- Urgent introspection and reforms are required to avert a #DigitalEmergency. This includes delinking spectrum from dollar pricing, lowering taxes on internet usage and smartphones, reducing right-of-way charges, and simplifying the process, etc.
Can't help but feel a bit sad. Telenor was a worthy competitor and a place I called home for 6 years. Formed many friendships there, learned about marketing, telecom, management, and leadership. Pakistan has a better workforce because of the progressive work practices we learned at Telenor. Thank you and goodbye.
Lastly, congratulations to PTCL and good luck. Mergers are never easy!
Congratulations to @Jazzpk, @HBLPak, @UBLDigital, @SystemsLtd, @MeezanBankLtd, and #ColgatePalmolive on their well-deserved recognition in the Global Innovation Index 2023, released by @WIPO (a specialized @UN agency).
However, Pakistan's overall ranking in the @GI_Index clearly falls short of its true potential. To build a stronger global brand for Pakistan, we must elevate our efforts✨ #InnovationForProgress
Let's take this challenge with determination and unity to shape a brighter and more progressive Pakistan! 🚀🌟 #RiseTogether #BrandPakistan