Islamabad May 6, 2010: Telenor Pakistan has posted strong results for Q1 2010. The company has taken its subscriber base to 23.28 million by adding 778,000 subscriptions in the last three months. The performance has impacted positively to its market share, which is now 24%.The growth is evidence of the success of the company in enhancing operational efficiencies even as the industry struggles with high costs of doing business and faces a number of challenges in the local market.
In his comments on the first quarter results, Jon Eddy Abdullah, CEO Telenor Pakistan said: “I am pleased to report that Telenor Pakistan continued with its strong performance in the first quarter of 2010. However, the business environment remains a challenge; currency devaluation, country-wide power shortages and security costs are restricting growth. To tackle this, we are constantly looking for alternatives to our current operational model while maintaining our network quality and commitment to innovation. We, along with the industry, look forward to government support in the upcoming budget, primarily through tax rationalization, to ensure continued positive socio-economic contribution by the telecom sector.”
Telenor Pakistan’s mobile banking solution, easypaisa continued to overachieve with Bill Payment volumes increasing to 300,000 transactions per month, a four time increase over the last quarter. More than Rs. 2 billion have already been transacted through the system. International media including CNN, Financial Times and Al Jazeera highlighted the success of the model.
Source:Telenor
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