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ISLAMABAD: Caretaker Federal Minister of Information Technology and Telecommunication Dr Umar Saif on Friday announced that 5G will be launched in July next year, and 300 MHz spectrum would be offered for auction.

Talking to the media, the minister said that Pakistan’s IT exports will grow in the Middle East. Memorandums of understanding have been signed with three Qatari companies, and he thinks that the IT exports will grow there.

He further said that the government is solving the problems of telecommunication companies regarding 5G.

Auction for 5G spectrum may take more time than expected

A telecommunication tribunal will be set up in three weeks, and an action advisory committee has been formed for 5G. A consultant will be hired for 5G action. He expressed the hope that all telecommunication companies will buy the spectrum.

Dr Saif emphasised the importance of women’s participation in decision-making. He said that women should be provided equal opportunities in business. The government has launched various schemes for women.

In the ceremony, the officials of the World Bank Group also shed light on the measures taken for the environment of the future and increasing capital for the help of women in business.

World Bank hosted the closing event of the Women Entrepreneurs Finance Initiative (WeFi) in Pakistan aimed at supporting women entrepreneurs, a journey that began in 2019.

Dr Saif highlighted the critical role of the government in women’s entrepreneurship and access to finance and the significant role of initiatives like WeFi in driving economic growth and gender equality. It also featured the capital raising success stories of women entrepreneurs, and panel discussions on future ecosystem initiatives to support women in Pakistan.

In its three-year journey, across a series of projects and activities, WeFi initiated meticulous work with 30 top-tier incubators and accelerators, significantly bolstering their capacity to integrate gender-lens investment-readiness into their existing curricula. In parallel, 350 women-led startups from various regions of Pakistan were also enrolled across multiple cohorts focusing on “Growth and Investment-Readiness”, a curriculum specifically designed to cater to their unique needs and challenges.

These programmes were then scaled in 10 countries across the MENA region, training 150+ women founders and 30+ ESOs (entrepreneurship support organisations) in collaboration with the IFC and Mashreq Gender Facility.

A targeted fundraise readiness coaching initiative, WeRaise, was then launched in partnership with Invest2Innovate, Efino, and Spring Activator, through which 24 startups received bespoke intensive fundraising support and access to local and international investors, resulting in an impressive $5.6 million in investments.

This achievement highlights the program’s effectiveness in bridging the funding gap and fostering a community of resilient women entrepreneurs.

Copyright Business Recorder, 2023

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Cool boy Dec 09, 2023 11:50am
Just in time to make dollars from auction fees which will be later paid by masses
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Under Khan's kilt Dec 09, 2023 12:55pm
5G is fine but will it be affordable for the masses? Please make a cover article elaborating business usage case.
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