ISLAMABAD, April 27: Prime Minister Shaukat Aziz has said that telecom sector which constitutes two per cent of Pakistan's GDP is among the fastest growing industries with a teledensity that increased from four per cent in 2003 to 35 per cent in 2007.The prime minister said this while talking to Simon Beresford Wylie, CEO Nokia Siemens Networks, who called on him at the PM's House this evening.

Mr Aziz said that government's policy of deregulation and privatisation has opened up the telecom sector leading to its phenomenal growth.

He said as a result of the investment-friendly policies and a level playing field provided to both local and foreign investors, the telecom sector has over the last few years attracted an investment of several billion dollars.

He said with a population of 160 million and a growing middle class, Pakistan is fast turning into a major market economy and a manufacturing and servicing destination in the region.

The prime minister said the country has 50 million cellular and fixed lines phones with 1.5 million mobile phones being added every month.

Mr. Wylie said his company is impressed with the balanced policies of the government and the development and growth taking place in Pakistan.

He said Nokia would invest in human resource development in Pakistan and employ them in their company. He told the prime minister that Nokia Siemens Networks (NSN) has been recently created by merging Nokia and Siemens and has an annual turnover of $20 billion.

He also said that NSN is interested in establishing software and research and development centres in Pakistan.