TFD Report
LAHORE: Chairman Airlink Communication, Aslam Hayat Piracha and CEO Muzzaffar Hayat Piracha signed MOU with Peshawar Zalmi’s owner Javed Afridi for PSL6 at Airlink’s state of the art assembly line facility in Lahore.
Giving detail of their other activities, chairman Airlink Communication, Aslam Hayat Piracha said Airlink had been a proactive supporter of cricket in Pakistan and has been the partner of Zalmi franchise for two years to promote the young and budding talent of the country.
Airlink CEO Piracha said, “We are thrilled to welcome International players in Pakistan who are determined to portray the softer image of Pakistan.” He added that, “It’s a pleasure to partner with a team which is the personification of bravery, enthusiasm, and passion among the people of Pakistan. Cricket is a game that brings together people from all backgrounds, working as a team and channelling all that passion into the game. Airlink will always stand with the champions of Peshawar Zalmi through thick and thin, as cricket has always been very close to the company.”
Paracha said company has been a strong proponent of investment in Pakistan and has heavily invested in the local industry with a state of the art mobile assembly plant being setup in Lahore. It is the most advanced mobile phone assembly line in the country.
He told that they already secured contracts with Alcatel, TCL, iTel and Tecno with all regulatory approvals and shall start assembly (Made in Pakistan mobile phones) in February, 2021.
He said company has planned to offer 90 million shares to corporate, high net-worth individual and retail investors through book building.
Paracha told, “There is a huge demand for smartphones in Pakistan owing to the growing population. The conversion rate from feature phones to smartphones is quite high whereas the introduction of ride-hailing services like Careem and Uber has further boosted the demand for smartphones in the country,” stated the prospectus.
“Device Identification, Registration and Blocking System (DIRBS) by Pakistan Telecommunication Authority (PTA) has significantly enhanced the demand for documented imported phones by blocking all grey market (smuggled) phones, which are estimated to be around 30-35% of the overall mobile phone market. The growing e-commerce industry will further enhance the demand for smartphones.”
According to Pakistan Customs and a GfK report, the company owns “a market share of around 20% within imported mobile phones.”