Prime Minister Shaukat Aziz says Pakistan is geared to become regional hub of Information Technology (IT) and telecom business in view of its highly skilled human capital, reduced cost of business and its world class infrastructure, the Pakistan Press International (PPI) reported. Talking to President & CEO of Telenor, Norwegian Fredik Baksaas, here Thursday, Aziz said deregulation and privatisation policy and opening up of telecommunication sector has stimulated phenomenal growth, attracted foreign investments. He said the telecom sector today is the fastest growing sector of Pakistan economy. The combined teledensity in last three years has increased from 4.5 percent to more than 27 percent, number of subscribers of fixed and mobile telephone increased from 8 million in 2003 to 42.7 million in 2006. Mobile subscribers alone are in excess of 36 million. Baksaas said Telenor is one of fastest growing networks in Pakistan with a footprint that covers more than 500 destinations. "We have plans to invest over US$1 billion over next few years in infrastructure development in Pakistan, which will result in improving telecom services and providing greater employment."
