Lucky Motor Corporation Limited (LMC), a subsidiary of Lucky Cement Limited, has announced a strategic move into the electronics market by entering into an agreement with Samsung Gulf Electronics Co. FZE (Samsung) to produce Samsung-branded mobile devices in Pakistan.
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Explore IT and Telecom stories with Pakistan Revenue, your go-to source for the latest updates on Pakistan’s technology and telecom sector. Stay ahead with real-time industry insights and economic developments.
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Ericsson organizes virtual event for Jazz Pakistan
Ericsson has organized a dedicated Ericsson Digital Unboxed 2021 Event virtually for Jazz Pakistan. Crafted for Jazz Pakistan, Ericsson’s global and regional experts and thought leaders showcased the latest insights, use cases and technologies tailored to Jazz Pakistan, a statement said on Thursday.
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PTCL declares 38% growth in net profit for first half
KARACHI: Pakistan Telecommunication Company Limited (PTCL) on Wednesday announced 38 per cent growth in net profit for the half ended June 30, 2021.
The telecom company announced Rs3.74 billion as net profit for the period January – June 2021 as compared with Rs2.7 billion in the corresponding half of the last year.
The company announced 73 paisas as earnings per share for the first half of the year under review as compared with 53 paisas EPS declared in the same half of the last year.
Revenue of the company increased to Rs38.187 billion for the first half of 2021 as compared with Rs35.33 billion in the same half of the last year.
The PTCL declared Rs8.69 billion as gross profit for the six months period of the current year as compared with Rs7.32 billion in the same period of the last year.
Administrative and general expenses of the company increased to Rs3.52 billion as compared with Rs3.16 billion.
The results have been announced by the Board of Directors of the company in their meeting held on July 14, 2021.
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Turkish App BiP enhances group calls to 15 participants
KARACHI: The maximum number of participants in HD-quality voice and group video calls via BiP has increased to 15, according to a statement issued on Tuesday.
With more than 82 million downloads worldwide and over two million downloads in the Pakistani market, the communication platform BiP has added another new feature to its distinctive innovations to meet the needs and demands of its users.
With the inclusion of this feature, Pakistani users in Pakistan and abroad who are far away from each other will get closer with BiP, while crowded families can also make video calls to celebrate each other’s Eid. Having witnessed over two million downloads already, this special feature is making BiP increasingly popular amongst Pakistani users.
BiP, developed by Turkish engineers and whose user data is protected in high-security data centres in Turkey, continues to be the pioneer of communication platforms with superior features that differ from its competitors.
The number of participants for HD-quality audio and group video calls over BiP, a platform with more than 82 million downloads, has increased from 10 to 15 now. BiP, which nearly doubles the maximum number of participants compared to its competitors, will continue to be the meeting point for business and recreational meetings and the best option for crowded families to meet up and celebrate each other’s Eid.
Stating that BiP has turned into a global player with millions of users in 192 countries worldwide, BiP Communication Technologies and Digital Services General Manager Burak Akıncı said: “We have become one of the fastest-growing communication platforms internationally thanks to our group video calling, voice, and video calling from a web interface, disappearing messages, instant translation in 106 languages and money sending features that we have implemented long before competitor applications, as well as our transparent policy on personal data protection. Before Eid, we implemented another innovation and increased the number of participants in our group video call feature to 15. We wanted to give our users a gift for Eid. In the coming period, we will continue to equip our application with new features that will make a difference by taking the feedback and demands from our users into account”.
Switching to BiP from other messaging apps is also extremely easy. Thanks to BIP’s “Group Moving” feature, which everyone can use regardless of the operator around the world, users can quickly and easily transfer their groups and chat histories in the messaging app they used before to BiP. Furthermore, unlike other messaging apps, users can transfer their existing groups to BiP while automatically adding users who have installed BiP in the group without having to select them individually.
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Google Cloud, Ericsson to jointly develop 5G, edge cloud solutions
KARACHI: Google Cloud and Ericsson (NASDAQ: ERIC) on Monday announced a partnership to jointly develop 5G and edge cloud solutions to help communications service providers (CSPs) digitally transform and to unlock new enterprise and consumer use cases.
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Jazz awarded contract worth Rs154 million
ISLAMABAD: The Universal Service Fund (USF) has awarded contract worth around Rs154 Million to Jazz for providing High Speed Mobile Broadband services in Multan and Khanewal Districts of Southern Punjab.
Federal Minister for Information Technology and Telecommunication, Syed Amin Ul Haque and Foreign Minister, Shah Mahmood Qureshi witnessed the contract signing ceremony here on Thursday.
The contract was signed by Haaris Mahmood Chaudhary, CEO, USF with Aamir Ibrahim, CEO, Jazz.
The Federal Secretary for IT & Telecommunication and Chairman USF Board, Dr. Muhammad Sohail Rajput and Parliamentary Secretary, Zain Qureshi, Member Telecom Muhammad Umar Malik, Member IC Ajmal Awan and other senior officers of MoITT were also present at the ceremony.
While addressing the ceremony, Federal Minister for IT and Telecommunication, Syed Amin Ul Haque said that, MoITT through USF has contracted projects worth approximately Rs6.5 billion to provide high speed internet to 3.8 million people in Southern Punjab.
These include six high speed mobile broadband projects and three optic fiber cable projects. According to Syed Amin Ul Haque, under these projects, we are spending a total of Rs708 million for provision of high speed broadband services in three districts of Bahawalpur, Bahawalpur, Rahim Yar Khan and Bahawalnagar. About 2.6 million people living in 846 villages will benefit from this. Similarly, in Dera Ghazi Khan Division, four districts DG Khan, Layyah, Muzaffargarh and Rajanpur, Rs141 million is being spent. While Rs4.47 billion is being spent on three projects related to the laying of optical fiber cable.
With the completion of these projects, an area of about 2, 000 sq. km will be connected with OFC. More than 25 per cent work has been done on broadband services projects.
Completion of these projects will provide the fastest broadband services to 393 villages with a population of over 0.85 million.
While addressing the ceremony, Foreign Minister, Shah Mahmood Qureshi said that he was pleasantly surprised to hear the performance of the MoITT which is working day and night for the fulfillment of the Prime Minister’s Digital Pakistan vision. He thanked the Federal Minister, Syed Amin Ul Haque for initiating the development projects in Southern Punjab and said that the Ministry of Foreign Affairs would provide all possible assistance and support for the promotion of IT industry and showcasing of Pakistani IT products around the world because Ministry of IT is at the forefront of those sectors through which numerous job opportunities and the country’s economy can be strengthened.
Sharing his views on the development, CEO-Jazz, Aamir Ibrahim said, “Jazz has invested US$ 462 million during the last two years mainly to expand its 4G footprint in rural and semi-urban areas. This is in line with our mission to bridge the digital divide and to collaborate with the Government of Pakistan in helping realize the Digital Pakistan vision.
Today’s contract signing is a testament of our commitment to create ICT-led socioeconomic opportunities for the masses.” Earlier on his welcome address, CEO-USF, Haaris Mahmood Chaudhary said: “The USF is committed in its resolve to empower the marginalized communities of Pakistan. This project will benefit an unserved population of 0.48 million in 170 unserved mauzas, thereby covering an unserved area of 1,323 sq. km. of Multan and Khanewal districts. The project will be completed in 12 months.”
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Ericsson, Samsung agree on multi-year global patent licenses
KARACHI: Ericsson (NASDAQ: ERIC) and Samsung have reached a multi-year agreement on global patent licenses between the two companies, including patents relating to all cellular technologies. The cross-license agreement covers sales of network infrastructure and handsets from January 1, 2021.
Furthermore, Ericsson and Samsung have agreed on technology cooperation projects to advance the mobile industry in open standardization and create valuable solutions for consumers and enterprises.
This settlement ends complaints filed by both companies before the United States International Trade Commission (USITC) as well as the ongoing lawsuits in several countries and confirms the value of the strong patent portfolios of both companies. The details of the agreement are confidential and will not be disclosed.
Ericsson’s IPR licensing revenues continue to be affected by several factors, mainly expired patent license agreements pending renewal, geopolitical impact on the handset market, technology shift from 4G to 5G, and possible currency effects going forward. In the second quarter 2021, IPR licensing revenues, including the new agreement covering sales from January 1, 2021, are expected to be SEK 2.0 b to 2.5 b.
Christina Petersson, Chief Intellectual Property Officer at Ericsson says: “We are delighted to sign a mutually beneficial agreement with Samsung. This important deal confirms the value of our patent portfolio and further illustrates Ericsson’s commitment to FRAND principles.”
Over several decades, Ericsson has made significant investments in R&D and in developing global mobile standards and is committed to licensing its standard-essential patents on fair, reasonable and non-discriminatory (FRAND) terms for the benefit of consumers and enterprises everywhere. The FRAND system allows access to technology and intellectual property, developed by inventors like Ericsson, and also rewards those inventors for their major up-front investment in R&D in each mobile generation.
The value of Ericsson’s IP portfolio extends to more than 57,000 granted patents and is strengthened by annual investment in R&D of approx. SEK 40 b. With a leading global position in 5G, the company is confident of growing its IPR revenues long term, thereby further maximizing the value of the overall patent portfolio.
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FBR directs car manufacturers to pay KIBOR+3% on late delivery
KARACHI: In order to avail concessionary rate of duty and taxes, the Federal Board of Revenue (FBR) has made it mandatory for car manufacturers to pay KIBOR+3 on late delivery of motor vehicles.
In order to implement the decision, the FBR issued SRO 837(I)/2021. The FBR said: “The concessionary customs duty for various models of new entrants under Automotive Development Policy (ADP) 2016-21 to continue for five years from date of first manufacturing certificate of respective various issued by the Engineering Development Board (EDP) or up to June 30, 2026, whichever is earlier.
“The importer-cum-assembler or Original Equipment Manufacturer (OEM) shall pay KIBOR+3 per cent per annum to the customer against late delivery exceeding 60 days of initial booking on the whole of the deposited amount. Statement/details of reimbursement at KIBOR+3 per cent against deliveries beyond 60 days shall be submitted to EDB or Input-output Coefficient Organization (IOCO) bi-annually.”
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IT exports, services granted 100% income tax credit
ISLAMABAD: The government has granted 100 percent tax credit to persons engaged in exports and services of Information Technology (IT), sources in Federal Board of Revenue (FBR) said on Monday.
Through Finance Act, 2021 incomes of persons engaged in IT exports and services have be allowed a tax credit equal to one hundred per cent of the tax payable under any provisions of Income Tax Ordinance 2001, including minimum, alternate corporate tax and final taxes for the period, to the extent, upon fulfillment of conditions and subject to limitations detailed as under:—
— a startup as defined in clause (62A) of section 2 for the tax year in which the startup is certified by the Pakistan Software Export Board and the next following two tax years; and
— Income from exports of computer software or IT services or IT enabled services as defined in clause (30AD) and (30AE) of section 2 upto the period ending on the 30th day of June, 2025:
Provided that eighty percent of the export proceeds is brought into Pakistan in foreign exchange remitted from outside Pakistan through normal banking channels.
The tax credit under shall be available subject to fulfillment of the following conditions, where applicable, namely:—
(a) return has been filed ;
(b) withholding tax statements for the relevant tax year have been filed in respect of those provisions of the Ordinance, where the person is a withholding agent; and
(c) sales tax returns for the tax periods corresponding to relevant tax year have been filed if the person is required to file Sales Tax Return under any of the Federal or Provincial sales tax laws.
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Finance Act, 2021: Withholding tax on phone, internet usage reduced
ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday said that the withholding tax rates on usage of phone and internet have been reduced to 10 per cent from 12.5 per cent with effect from July 01, 2021.
For tax year 2022 the rate has been reduced to 10 per cent and it will be further reduced to 8 per cent beyond the tax year 2022.
The FBR said that the withholding tax is applicable under Section 236 of the Income Tax Ordinance, 2001. Through the Finance Act, 2021 the withholding tax rates on the usage of phone and internet have been reduced from 12.5 per cent to 10 per cent for tax year 2022 and 8 per cent onwards.
The FBR said that the Finance Act, 2021 inclusion of telecommunication sector in the definition of industrial undertaking under clause (29C) of section 2 of the Ordinance. This will enable them to adjust tax
deducted under section 148 on import of capital equipment and plant & machinery for their own use. Reduction of withholding tax rate under section 153(1) of the Ordinance on telecommunication services from 8 per cent to 3 per cent under minimum tax regime.