By Staff Reporter
ISLAMABAD: Pakistan’s IT and Telecom Minister Syed Amin ul Haque approved on Thursday the annual budgets of two state-owned funds that support the development of the telecom sector and innovation projects.
The Universal Service Fund (USF), which subsidises the expansion of telecom services to remote and underserved areas, received a budget of Rs18.036 billion for the fiscal year 2023-24, according to a statement from the ministry.
The Research & Development Fund, also known as Ignite, which funds technology startups and research projects, got a budget of 3.206 billion rupees for the same period.
Haque said telecom companies were facing difficulty in importing equipment and upgrading their systems due to limited letters of credit (LCs), which was also causing delay in completing USF’s ongoing projects.
He said he was taking steps to resolve the issues of the telecom industry and protect the rights of cellular users, while maintaining a balance between service providers and consumers.
Haque also met with the chief executives of Ufone, Jazz and Telenor, three of the four major mobile operators in Pakistan, to discuss matters related to the telecom sector. The CEOs praised Haque’s efforts for the promotion of IT and telecom in Pakistan, the statement said.
Copyright © 2021 Independent Pakistan | All rights reserved
