
With telecom operators across emerging markets under pressure to diversify revenue streams and reduce reliance on infrastructure-heavy models, Pakistan's telecom sector is beginning to show signs of strategic recalibration.
"The future of telecom won't be built on towers; it will be built on how quickly we adapt and the ecosystems we enable around connectivity," said Farrukh H Khan, Chief Financial Officer of Jazz.
Khan's remarks come in the wake of a major domestic merger and acquisition (M&A) transaction – Jazz's sale of its tower infrastructure to Engro Corporation. Internally known as the Deodar Project, the deal involved the transfer of Jazz's passive tower assets to Engro while maintaining long-term access through leaseback arrangements. "It wasn't just a sale; it was a strategic unlock," Khan said. "We freed up our balance sheet to invest in what's next – platforms, not pylons."
The transaction, completed last year, has freed up capital that Jazz is now directing into high-growth digital verticals including fintech, enterprise solutions, entertainment, healthtech, insurtech and digital self-care. Khan said the pivot reflects a broader global shift, particularly in markets where telecom operators face rising operational costs, declining voice revenues and growing digital demand.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ