Foreign investment in telecom declines to $79m
The telecom sector in the country has attracted Foreign Direct Investment (FDI) merely worth $79.1 million in the fiscal year 2010-11, showing a declining trend as compared to previous years, according to a telecom news website quoting official statistics on Thursday.
The share of the telecom sector in overall FDI has contracted to 5% in the just concluded fiscal year, against 17% of the share recorded in the year 2009-10. It was $1.82 billion in 2006-07, $1.44 billion in 2008-09, $815 million in 2008-09 and $374 million in 2009-10.
The FDI level is the lowest since year 2003-04 in the telecom sector as FDI continued to increase till 2009-10. The sector used to be bring in billions of dollars of investments with a host of related economic activities.
In 2005-06, the telecom sector brought $1.91 billion with 54% share in the overall FDI, the figures showed.
Published in The Express Tribune, July 22nd, 2011.
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thats the problem with service sector.once matured investment goes down.Our focus should have been manufacturing sector.
it is a laughable peanut amount... dont we have any shame ... receiving 10 billion dollars in aid after begging and selling every asset... still no one wants to come to our god forsaken land... shame for all of us..