LCCI President Mian Misbahur Rehman has said that the investment climate in Pakistan at the moment was quite conducive as a large number of foreign companies were already taking advantage of the situation and making big fortunes. He was talking to General Manager G Hanz Electronics Leonard J D' Souza here at on Saturday. LCCI Executive member Mian Shafqat Ali, Majid Abdullah, Mohammad Younas Sheikh and former Executive Member Mian Muzaffar Ali were also present on the occasion.
The LCCI President said that due to the sustained economic growth and favourable regulatory framework tremendous growth in fixed line and cellular phones has been witnessed. The fast growth rate of this sector could be judged from figures of first 10 months of current financial year, which shows that more than 5 million new subscribers have been added reaching 10.5 million mobile phone users in April 2005, he added.
He further said that the mobile phone sector has shown 173 percent growth in 2003-04. "There were only 0.3 million cellular mobile subscribers in Pakistan during 1999-2000 period, which jumped to 2.4 million in 2002-03. Pakistan has also received US $207 million in shape of foreign direct investment. Card payphone sector also showed tremendous growth, which has gone up from 10,400 operators in 2000-2001 to 184,669 in 2003-2004 creating approximately 370,000 employment opportunities all over the country.
In free market economy, the increasing number of companies would result in direct or indirect benefits to the end consumers, as they were bound to lower their prices and increase efficiency to retain their market share. Incentives announced by the government would also help in expansion of telephone network in Pakistan," he added.
He congratulated the Synergy Corporation Limited for introducing one of the leading German consumer electronic company in Pakistan. The company has recently launched in India "the world's first state of the art cell phone with harmless radiation" the technology developed by EMX Corporation. The biochip technology of the EMX is designed to block harmful radiation by superimposing a random noise field. G Hanz was a modern German brand introducing world's first cellphone with harmless radiation.
While briefing the LCCI President about the salient features of their brand, Leonard J D' Souza said that use of wireless communication devices, such as cellular telephones was increasing dramatically. There were more than 300 million cellphone users in the world, and widespread use of cellphones and other types of handheld communication devices has led to increased concerns about the long-term health effects, notably cancer of brain, he added.
He said that the issue of health hazards associated with cellphone radiation first came to public notice in 1993 and later on it was scientifically established that the electromagnetic emissions of cellphones are capable of significant biological tissue interactions. G Hanz was introducing the new cellphones only to avert these health hazards, he added.
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