ISLAMABAD, Oct 16: Nortel Networks company has decided to enhance its investment in Pakistan, and initially it will be giving $7 million grant to PTCL to help it improve its nationwide wireless services.

Three senior representatives of Nortel Networks told a news conference here on Wednesday that their company, which had earlier invested $70 million in Pakistan would further be making considerable investment.

The company is expected to make $20 million new investment within this year besides establishing Nortel Network New Generation Network (NGN) College in Pakistan. It will also be constructing its own building in the country.

Enis Erkel, Vice President Nortel Networks Asia Pacific said that his company will shortly offer a gift of $7 million to Pakistan Telecommunication Company Limited (PTCL) to improve its infrastructure facilities.

Responding to a question he and another senior representative of the company Jean Luc Jezouin said that US and western companies have nothing to do with political issues, and would continue operating in Pakistan.

They were asked whether the unexpected victory of religious parties in the elections could deter multinationals and other international companies from investing in Pakistan. They said that they have no plan to pack up from Pakistan, and that they were doing business here and as such contributing in the economy of the country.

They said that due to 9/11 and tension on borders, business activities had received a set back. “But now out of 16, our 14 senior personnel have come back to Pakistan as things are returning to normal,” said Oubay Atassi, Managing Director Nortel Pakistan.

To a question Enis Erkel said that if Pakistan continued to deregulate, there will be a flood of new investment and technologies.