Saudi Arabia’s TAWAL Telecom enters Pakistani market
The entry of TAWAL Telecom, a telecom company based in Saudi Arabia, in the Pakistani market is good news for the country’s telecommunications industry amid economic uncertainty.
After obtaining the required permits and securing the appropriate approvals, the Pakistan Telecommunication Authority (PTA) has issued TAWAL Telecom a no-objection certificate (NoC) allowing the company to operate throughout Pakistan.
PTA has given the company preliminary approval to transfer its stock holdings from Securities and Exchange Commission of Pakistan (SECP).
TAWAL is a division of Saudi Telecommunication Company (STC), the largest telecom provider in Saudi Arabia, and its portfolio includes more than 15,500 towers.
It publicly announced its intention to join the Pakistani market with the acquisition of AWAL Telecom in February this year.
Given the present economic climate in Pakistan, Saudi Telecom Group’s entry in the local market is a major event.
AWAL Telecom, a company that has a Telecom Tower Provider License and owns between 70 and 80 telecom towers, has acquired a stake in TAWAL Telecom.
According to industry experts, the introduction of TAWAL to the Pakistani market is also vital for the introduction of 5G.
TAWAL, a tower company with innovative technology and new perspectives, will be an excellent addition to the market when 5G is rolled out.
Under PTA’s active sharing structure, cellular operators will be able to rent telecom towers, creating a win-win for all parties involved.
With 194 million mobile phone users, 121 million 3G/4G customers, and 124 million broadband subscribers, Pakistan’s telecommunications market has great room for business opportunities.