The Pakistan Telecommunication Company Limited (PTCL) is to sign an agreement with Indian companies to lay infrastructure for establishing Optic Fiber Link (OFL) between Lahore and Amritsar, as security agencies has cleared the proposal. Federal Minister for Information Technology and Telecommunication Awais Ahmad Khan Leghari revealed this while talking to media at a workshop on "Telecom Sector - New Scenario" organised by the PTCL here on Monday.
He said a preliminary discussion on the project was held with Indian authorities and security agencies have given formal approval for the project.
A PTCL official later told Business Recorder that an internal meeting will be convened within a few days in the ministry of information technology and telecommunication to discuss further details of the project before submitting it to the federal cabinet for final approval for taking it up officially with the Indian authorities.
Answering a question, Leghari said during his recent tour of Europe with the Prime Minister he had discussed investment in the information technology industry with around eight IT companies of international repute and they were ready to operate from Pakistan in five to six months.
He said during the tour, he held 'useful' interaction with an Indian company, adding that Pakistan would welcome investment by Indian companies in the IT sector.
International companies are also planning for diversification of their investment in other regions of Asia, especially in Pakistan, to minimise their risks, the minister said.
When asked what would be the exact amount of foreign investment coming to Pakistan in next five to six months in the IT and Telecom sector, he said Pakistan did not need any investment but is looking for joint ventures with foreign IT companies," he said.
On the PTCL privatisation, the minister said the government would protect the interests of PTCL employees not only in the process of privatisation, but after the privatisation of the company as well.
"The government will protect the interests of PTCL employees. They will not be abandoned," he said.
"Yes, the PTCL is profit-making organisation and we want to make its functions more transparent. The government expects the current 18 percent growth in profit will increase after the PTCL's privatisation," he added.
He further said that more competition among companies would ensure better services in this sector and consumer would benefit price-wise, too.