ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Friday reviewed key challenges faced by telecom infrastructure companies and venture capital (VC) firms, with discussions centred on taxation, the investment climate and long-term growth prospects.
The meeting, held at the Finance Division, was attended by representatives of telecom infrastructure companies operating mobile network towers under TOWERCO Pakistan, along with venture capital firms investing in startups and other business ventures.
Participants agreed to establish a dedicated working group comprising officials from the Tax Policy Office and other relevant stakeholders. The group will examine the proposals in detail and formulate actionable recommendations.
During the discussion, the delegation briefed the finance minister on their business models, operational constraints and regulatory hurdles, particularly those linked to infrastructure deployment and compliance requirements.
The participants proposed a range of measures to ease and rationalise elements of the existing tax regime to spur growth, attract investment and facilitate expansion in both the telecom infrastructure and venture capital sectors. The proposals were framed in the context of enhancing digital connectivity, improving service delivery and supporting innovation-led economic activity.
Addressing the meeting, Senator Aurangzeb acknowledged the critical role of telecom infrastructure companies in expanding digital access across the country and underscored the importance of venture capital in fostering entrepreneurship, innovation and job creation.
He stressed that a predictable and transparent policy and tax framework is vital to attracting long-term investment and ensuring sustainable growth. While reaffirming the need for fiscal discipline, the finance minister said the government is committed to a balanced approach that supports private sector-led growth, encourages formalisation and strengthens Pakistan’s digital and innovation ecosystem over the medium to long term.
Federal Minister for Information Technology and Telecommunications Shaza Fatima Khawaja also attended the meeting, along with the chairman of the Federal Board of Revenue, the chairman of the Securities and Exchange Commission of Pakistan, senior officials from the IT ministry and representatives of relevant public sector bodies, including Ignite.
