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ISLAMABAD: M/s Telenor, a Norwegian Telecom Company, might consider closing operations in Pakistan after failure of merger efforts with Ufone, well-informed sources in Board of Investment (BoI) told Business Recorder.

According to Syed Tariq Fatemi, Special Assistant to Prime Minister, on December 5, 2022, Ambassador Per Albert Ilsaas of Norway called on him to raise the issues being faced by two Norwegian companies operating in Pakistan namely Scatec, a leading name in alternative energy, and M/s Telenor, one of the major telecom companies in Pakistan.

Scatec, in partnership with Nizam Energy, is establishing three solar power plants of total capacity of 150-MW in Sukkur. Scatec holds 75 % of the project’s equity, with the remaining 25% belonging to Nizam Energy. The Ambassador maintained that the project would be operational in another six months. He did; however, highlight the problem being faced by the company in making outbound payments to its vendors. To ensure timely completion of the project, the Ambassador requested “our facilitation on the matter”.

Telenor pushes ahead with plan to sell Pakistan operations: report

The Ambassador also apprised the SAPM that the CEO of Scatec had to postpone his earlier scheduled visit to Pakistan on 6-7 December, but would now be arriving later. This visit, according to SAPM, would be a good opportunity for Board of Investment (BoI) and Power Divisions to meet with him to thrash out his company’s issues, as well as, to encourage the Scatec to increase its investment in alternative energy sector of Pakistan.

The ambassador also hinted at Telenor’s growing unhappiness about operating in Pakistan due to low profitability of the telecom sector. Furthermore, the ambassador emphasized that after the failure of Telenor’s merger with Ufone, the company might consider closing its operations in the country.

Fatemi argued that M/s Telenor has a sizeable investment in Pakistan and shutting down their operations would have significant implications on Pakistan’s domestic economy. In this context, Board of Investment may consider engaging with the company’s representatives to explore possible options for convincing them to stay in Pakistan.

Copyright Business Recorder, 2022

Comments

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Irfan Pardesi Dec 08, 2022 02:06pm
A little change to bring the MVNO regulation at par with the world. And Telenor might have an alternative way to exit different regions to different local players.
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Saeed Dec 08, 2022 09:24pm
Congratulations neutral ls this is what you have brought the nation to
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Hamid Dec 08, 2022 09:41pm
Neutrals squeezed the juice out of this country by involving in businesses and interfering in everything. They Ruined it. Investors like Azam Swati is paying his taxes to buy clothes and food for those who in return torture him and ruined his life. Neutrals should be jailed for human right crimes.
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Khalid Mahmood Dec 09, 2022 12:53am
What's problem in this close aprtions
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Usman Dec 09, 2022 09:50am
Telenor has already aborted from other Asian countries in last few years as a strategic decision at their group level. Only Pak and Bangladesh are left which will also follow soon. Pl dont try to link every thing with neutrals and governments.
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Hgf Dec 09, 2022 10:41am
Good. Close all other mobile companies also. Let the nation free from all other activities and allow to develop communication strategies of 10 BC. No light, no Gas , no energy.
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Tahseen Dec 09, 2022 11:44am
Irfan Wahab & umair Mohsin is main culprit for Telenor business disaster
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Mahwish Dec 09, 2022 01:52pm
This is incorrect information
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Mahwish Dec 09, 2022 01:53pm
This is incorrect information
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Khizar hayat Dec 09, 2022 05:09pm
Cheater company I think so it have to be closed as early as possible
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Khizar hayat Dec 09, 2022 05:11pm
Cheater company I think so it have to be closed as early as possible
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M.Farooq Zaki Dec 09, 2022 05:35pm
Telenor is the wrost operator.it is not taking care of consumer interest. it is hard to connect up .its call service is extremely faulty. same is position of data service.our pakage are wasted.we can not take benefit bcs of be poor connection. let them go where ever they want to.confiscate their assets. they have looted pakistanis ruthlessly. our national operator ufone should be developed and moderanised.
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Ubaid Muzaffar Dec 09, 2022 06:27pm
Where is Hafiz General Sahab
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Asif Dec 09, 2022 10:20pm
Telenor is a good telecommunication company as per my experience. I have used the service and it's 'make your own offer' is what no other telecommunication is offering. Plus easy paisa is also offering a good way of money transfer in country. It's will be a shame to see Telenor leave like this :(.
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Zulqarnain Dec 10, 2022 12:36am
@Mahwish, what is correct?
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Paramount Dec 10, 2022 02:48am
Telenor services degraded when they compromised quality over price and switches to Chinese vendor ZTE .. And knowingly they never tried to penalize the vendor nor tried to improve their quality of service .. Best solution is to hand over Telenor to Askari group of industries
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Safdar hayat Dec 10, 2022 05:05am
I can run operation .. i want buy 40percent share of telenor.
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Safdar hayat Dec 10, 2022 05:06am
Lets get deal. I m interested in telenor.
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M. M. Ahmad Dec 10, 2022 07:08am
Who you are waiting for? Shut this shit as early as possible. Telenor is one of the worst network platform.
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Asif Dec 10, 2022 08:20am
Telenor is the wrost operator.it is not taking care of consumer interest. it is hard to connect up .its call service is extremely faulty. same is position of data service.our pakage are wasted.we can not take benefit bcs of be poor connection. let them go where ever they want to.confiscate their assets. they have looted pakistanis ruthlessly. our national operator ufone should be developed and moderanised
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Nayyar Abbas Dec 11, 2022 12:35pm
Hi Folks, These Mergers and acquisition are part of the Business strategies. So let’s support their decision and find the potential prospect if we can. I am into the M&A business. If anyone from Telenor is in the chat wants to share the pitch deck documents then please reach me out.
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Arshad Khan Dec 11, 2022 05:48pm
It seems from the past 2 or 3 years, that they are packing their bags as there is no official customer support center in the whole KPK. I am a Telenor postpaid user from the past 3 years but have to visit for the support to Islamabad.
thumb_up Recommended (0)
M Saleh Dec 12, 2022 11:24am
Thank you the power that be ... For the mess in Pakistan
thumb_up Recommended (0)

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