Fawad Chaudhry Pakistan’s Federal Minister for Information and Broadcasting revealed that the rumor of Facebook and Google investing in Pakistan is actually true.
While addressing a Senate Standing Committee on Information and Broadcasting meeting, Fawad Chaudhry said that the tech giants have already started investing in the country. It will boost the IT industry of the country.
He said it was a good sign that Google and Facebook had already begun to invest in Pakistan. He also hopes the two companies’ investments will provide a boost to the country’s information technology and telecom sectors. There were no other details about the two companies’ alleged investments, what form they might be taking, or how much they might be worth.
Only three committee members were able to be at the meeting, so that item was deferred to the next meeting. Senator Faisal Javed said it’s an important topic so it will be discussed more thoroughly at their next meeting.
The Pakistani government also plans to create a new regulatory body to oversee all forms of media called the Pakistan Media Regulatory Authority. The government would reportedly not intervene in the regulatory body. Currently the Pakistan Electronic Media Regulatory Authority only oversees electronic media, while the Press Council oversees print media and the Pakistan Telecommunication Authority regulates digital media. However, due to technological advancements, Chaudhry feels there should be one regulatory agency to oversee all forms of media.