Limited LCs hurting telecom sector: minister

ISLAMABAD: Federal Minister for IT and Telecommunication Syed Amin Ul Haque has said that limited facility of Letters of Credit (LCs) is insufficient for the telecom sector and it is hindering import of equipment for upgrading mobile networking.

He was chairing the 44th Policy Committee Meeting of Universal Service Fund (USF) here on Tuesday. He said that telecom companies were facing difficulty in importing upgraded systems and equipment due to limited permission of LCs and it might also result in delay in projects for 4G services in far-flung areas of the country.

Earlier, USF CEO Haaris Mahmood Chaudhary briefed him about the ongoing projects. The meeting also approved the release of Rs5 billion development funds for USF for the second and third quarter out of total USF budget Rs32.13 billion for FY2022-23.

It also approved releases to Ignite Co on quarterly basis in line with approved budget. Meanwhile, in order to save electricity, the Ministry of IT and Telecommunication has started implementing one room, one light policy. A notification has been issued in this regard.

Federal Minister for IT Syed Amin Ul Haque said that electricity saving is the need of the hour and vital to cope with economic issues.

All the attached departments of the MOITT have also been directed to comply with the order in letter and spirit.