Mobilink to invest $250m in Pakistan

KARACHI: Mobilink has earmarked more than $250 million for investment in Pakistan in 2010 which will help expand its existing infrastructure and improve quality of services.

Mobilink announced its investment plans for the year 2010 on Wednesday, bringing its total investment in Pakistan to over $3.5 billion. The company has already invested more than $3.3 billion in the country to date. “This is the largest foreign direct investment by any cellular operator in the country,” a press release quoted Mobilink as saying. Mobilink’s revenues in local currency increased by 5.3 per cent in the fourth quarter of 2009 as compared to the third quarter. Mobilink said Standard and Poor’s ratings agency has upgraded the company’s rating to ‘B-’. Mobilink President and CEO Rashid Khan said:

“Operation in one of the most competitive markets in the region requires constant improvement and value addition be it in terms of offers and services or capital investment to enhance the quality of service.” Mobilink is also supporting a 6,500-km fibre optic backbone and covers more than 10,000 locations.