ISLAMABAD: Jazz, Pakistan’s largest mobile network operator, invested Rs3.7 billion in the first quarter of 2023 and added more than 1,000 new 4G sites, bringing its overall investment in Pakistan to $10.4bn.

Despite a 16 per cent growth in overall revenues in local currency, Jazz’s revenue decreased 20.4pc in dollar terms during January-March, mainly due to a massive depreciation in the rupee.

The company has said that the profit margins have been affected by a significant increase in business costs such as the increase in interest rates, fuel and electricity costs.

Published in Dawn, May 5th, 2023