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CM boosts Pakistan investment

CHINA Mobile Communications Corp will invest another US$500 million in Pakistan this year, the company's subsidiary in Pakistan said yesterday.

The money will be earmarked for building new network capacity and other infrastructure, CM Pak Ltd, China Mobile's wholly owned subsidiary in Pakistan said in a statement.

The Federal Minister for Investment, Senator Waqar Ahmed, Ambassador at large Khalil Ahmed, Advisor to the Prime Minister on Water Resources Majidullah Kamal and Chinese Ambassador Luo Zhaohui visited the head office of CM Pak and were briefed about the performance of the company.

Zafar Usmani, chief operating officer, said the company had so far invested US$1.66 billion in Pakistan and offered more than 41,700 jobs in the country.

However, the firm recently failed to secure a Long Distance International license, despite the approval of the Prime Minister.


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