Pakistan Telecommunications Q4 2018
The Pakistani mobile market has added an impressive 23mn new subscribers over the two years from Q116 to Q118.Low penetration rates indicate that there is plenty of scope for organic growth left, especially in the rural areas. Nevertheless, wenote that constricted spending powers and low disposable incomes in Pakistan limit growth prospects in the premium servicessegment. As such, operators must compete on the basis of low-cost and high-value to maintain their revenue streams. 3G/4G LTEuptake remains healthy with quarterly net additions in the advanced mobile services segment suggesting a positive upselling rate.Jazz (Mobilink) and Telenor have recently spent significant sums of money to procure new LTE compatible spectrum and the marketis gearing up for intensified competition in the advanced data segment. We will be keeping a close eye on the development of theinternet cable from China, which could lead us to upgrade our broadband forecast in the future.