Zong to Invest $ 500 Mln if LDI License Granted

Senator Waqar Ahmed Khan, Federal Minister for Investment applauded China Mobile’s role for investing more than any other Chinese company in Pakistan; during his visit to Zong’s head office in Islamabad today, as reported by Geo TV. Mr. Luo Zhaohui, Chinese Ambassador to Pakistan accompanied the Minister during his visit, said the report.

Mr. Waqar Ahmed Khan was updated with China Mobile’s plans for investing further US 500 million dollars during 2009 for network capacity and coverage expansion.

During his meeting with CEO, ZONG, Qian Li posted the Minister about company’s query regarding non-issuance of LDI license. It may be recalled that PTA has not been issuing LDI license to China Mobile despite getting approval from the Prime Minister and the cabinet and clear directives of the Ministry of Information & Technology.

However, in current scenario, analysts find no good reason for holding China Mobile’s license from PTA’s end, as the situation is hindering investor’s way to attain a level playing field, and especially if USD 500 million investment during hard times is conditioned with LDI license.

Zafar Usmani, COO, ZONG during briefing informed the Minister that the company has so far invested US $1.66 billion in Pakistan and has generated more than 1700 direct and over 40,000 indirect jobs in the country. Furthermore, it was told that China Mobile paid US $106 million in direct taxation and paid another US $91.5 million under various heads to the government.

During the meeting China Mobile urged the Minister to use his good offices to help solve the long-delayed matter by PTA for issuance of LDI licence to China Mobile Pakistan.

On the occasion, Ambassador of the People’s Republic of China, Mr. Luo Zhaohui urged the government of Pakistan to intervene in this regard in order provide level playing field to all the stakeholders in the cellular industry keeping in view the long-term friendship and close ties between Pakistan and China.

Tech reporter with over 10 years of experience, founder of ProPakistani.PK