Latest news with #BRR
Business Recorder
30-06-2025
- Business
- Business Recorder
Interview with Jon Omund Revhaug, Executive Vice President and Head of Telenor Asia: ‘Telecom restructuring is critical for Pakistan's digital progress'
Jon Omund Revhaug, Executive Vice President and Head of Telenor Asia, leads Telenor's operations across Bangladesh, Malaysia, Thailand, and Pakistan from his base in Singapore. With over 24 years at Telenor, he brings deep operational and leadership experience to one of Asia's most dynamic telecom portfolios. Previously, he served as EVP and Head of Telenor Nordics, as well as COO for regional IT and shared services, and played a key role in the merger of True and DTAC in Thailand. He also led Telenor Myanmar through the COVID-19 pandemic and a military coup and helped establish the Group's global sourcing arm, TPC. Revhaug currently chairs Grameenphone in Bangladesh and sits on the boards of CelcomDigi in Malaysia and True Corporation in Thailand. A biologist and economist by training, he holds a master's in management from BI Norwegian Business School. At a time of fast digital transformation, Revhaug is driving Telenor's mission to connect societies and build resilient, future-ready networks across Asia. Following are the edited excerpts of a recent conversation BR Research had with him: BR Research: Telenor's Exit from Pakistan: Telenor announced the sale more than a year ago. Why, after 20 years in Pakistan, did the company decide to divest its telecom assets to PTCL? Jon Omund Revhaug: Following a thorough review in 2021, Telenor decided to exit the Pakistani telecom sector, aligning with the company's strategic direction of investing in markets where it can be a number one player. We did not see that for Pakistan. Following this decision, Telenor signed an agreement with Pakistan Telecommunication Company Limited ('PTCL') in December 2023 for the sale of its Pakistan operations. PTCL was selected as the preferred buyer after a competitive process that considered the fact that PTCL is majority-owned by the Government of Pakistan and that e&, PTCL's parent company, is majority-owned by the Government of the United Arab Emirates (UAE). We believe Pakistan's telecoms sector will benefit from consolidation. Selling Telenor Pakistan to PTCL will create new growth opportunities, benefiting consumers in Pakistan. BRR: What has been the response from Telenor's customers and employees in Pakistan regarding this transition? JOR: It has been business as usual for Telenor Pakistan until the sale is concluded. Our customers and employees continue to trust the Telenor brand and its services. BRR:The Competition Commission of Pakistan (CCP) has yet to approve the Telenor-PTCL merger. How is this uncertainty affecting Telenor's strategic planning and operations in the country, and how are you mitigating associated risks? JOR: While the transaction closing timelines remain uncertain, Telenor's strategy to exit Pakistan remains unchanged currently. After a thorough strategic review, Telenor decided to exit the Pakistan telecom sector in line with our company's strategic direction. BRR: PTCL's leadership has warned that further delays could jeopardize the agreement. How is Telenor preparing for such a scenario, and what contingencies are in place? JOR: We continue to engage with the relevant authorities to obtain the necessary approvals. Considering the substantial merits of the case for all stakeholders, we still anticipate receiving the required approvals in the coming months. We hold the decision to exit and do not have any other plans currently. BRR: The 5G spectrum auction has now been postponed due to the merger deadlock. What are the potential repercussions for Telenor's technology roadmap and Pakistan's digital advancement? JOR: Running a successful 5G auction offers a good example of how Pakistan's telecoms sector would benefit from consolidation. A swift resolution of the ongoing sale process would create a stronger second-position player in the market, one who is better positioned to invest in critical digital infrastructure, resilient data networks, and future technologies that can drive innovation at an accelerated pace. Telecom is a capital-intensive industry, and the current industry structure does not support meaningful investment in the sector. Market leader Jazz has a revenue market share of 44 percent, compared to Telenor Pakistan's 20 percent and PTCL's estimated 12 percent. Telenor analysis shows that companies with a market share below 20% cannot sustain over time. BRR: More broadly, how do you see this delay affecting Pakistan's digital infrastructure development and telecom competitiveness? JOR: According to the Pakistan Economic Survey FY 2025, telecom investments have dropped by more than 60 percent in less than four years, highlighting that a restructuring of the sector is needed to ensure future investments. A lack of investment could also make Pakistan more vulnerable to cyber threats. In 2024, Pakistan experienced an 18 percent surge in phishing attempts compared to 2023. The merger of PTCL with Telenor Pakistan will create a stronger second player in the market, one that is better positioned to invest in critical digital infrastructure in Pakistan, thereby building safer and more resilient data networks necessary for further industrial development. BRR: You have overseen major mergers in Malaysia and Thailand. How have those consolidations benefitted customers in those markets? JOR: By combining the strengths of the two entities, the merged companies in Malaysia and Thailand have been able to expand and improve network coverage, provide better customer service platforms, and offer customers more choices. Customers experience significant improvements in network quality and overall experience following mergers. For example, in Thailand, 4G coverage from Dtac and True was 96.9 percent and 99 percent, respectively, while 5G coverage was 46.8 percent and 85.6 percent, respectively, before the merger. Following the merger, the combined networks now offer 99.2 percent 4G coverage and 90 percent 5G coverage. As companies with scale, they are also better positioned financially to invest in advanced technologies, such as AI and cloud computing. This drives innovation and creates more choices for customers. For example, CelcomDigi's innovation centre in Kuala Lumpur, launched last year, is quickly becoming the country's leading innovation hub, showcasing AI, 5G, IoT, and robotics use cases across eight verticals and industries. BRR: How do you view Telenor Pakistan in comparison with other assets in your Asia portfolio? JOR: Telenor's strategy in Asia is to build number-one positions in the markets we operate in, with sufficient scale for significant infrastructure investments. While Telenor's decision to exit Pakistan's telecoms market remains in effect, we continue to be impressed with Telenor Pakistan's resilience and what they have achieved in otherwise challenging circumstances. This is an extremely resilient team; both I and our Global CEO highly appreciate their efforts amidst the ongoing sale process. JOR:What is your overall view on the growth prospects of the telecom sector in Pakistan over the next few years? JOR: While there is tremendous untapped potential, we want to emphasize again that the financial sustainability of the telecom industry to continue to invest and bring more online continues to be under significant pressure. The average revenue per user (ARPU) in Pakistan's mobile sector is one of the lowest globally, at below US$1, compared to the global average of US$8, which is insufficient to cover dollar-denominated costs, such as spectrum fees and equipment imports. We believe the restructuring of the sector would be beneficial. BRR: Telenor is exiting telecom but retaining a stake in Easypaisa. Can you explain the rationale behind this decision and what potential you see in Pakistan's fintech ecosystem? JOR: The strategic decision made was to exit the telecom sector in Pakistan for the reasons explained above. Easypaisa, a joint venture between Telenor and Ant Financial, is not part of the Telenor Pakistan transaction. BRR: Do you see Easypaisa evolving beyond a wallet into a full-fledged digital financial services platform? JOR: Earlier this year, we were proud that Easypaisa was the first digital bank to receive approval for commercial operations in Pakistan. Operating now as an Easypaisa digital bank, this marks the start of a new chapter in Pakistan's banking sector, bringing digital banking services to millions across the country. With innovative products and services on the horizon, Easypaisa Digital Bank is poised to lead from the front, driving financial empowerment for millions across Pakistan. Easypaisa is also offering a range of savings, investment, and insurance products in addition to digital and traditional lending as part of its ambitions to become a leading financial ecosystem in Pakistan. Copyright Business Recorder, 2025
Business Recorder
30-05-2025
- Business
- Business Recorder
Interview with Syed Aamir Jafri –CEO, Eocean Pvt Ltd
'Digital solutions will outperform conventional methods in Pakistan' Syed Aamir Jafri is the CEO and co-founder of Eocean, a cloud communication company with over 11 years of leadership experience. Under his guidance, Eocean has delivered innovative communication solutions to global clients such as Google, Facebook, Unilever, British Council, and Visa. His expertise spans marketing communications, business development, and key account management, with a strong grasp of the evolving mobile advertising landscape and emerging technologies. He is also the co-founder of Kistpay, a visionary platform aimed at digitizing Pakistan and beyond by aggregating major players in finance, telecom, insurance, and mobile technology. A certified Chief Digital Officer from MIT, his mission is to empower businesses and consumers through cutting-edge cloud-based solutions. Following are the edited excerpts of a recent conversation BR Research had with him: BR Research: Congratulations on Eocean's recent global recognition by META. Can you walk us through idea generation for integrating WhatsApp Business Platform with PTCL's services came about? Syed Aamir Jafri: Thank you! The idea came from a very challenge — call centres were overwhelmed, and customers were expecting faster, simpler ways to connect. PTCL wanted to modernize its service experience, and we knew WhatsApp was the one platform nearly every Pakistani uses daily. From there, it was about reimagining what service could look like: no hold music, no IVRs — just a smooth, intuitive conversation on a familiar app. BRR: With the successful implementation of the WhatsApp Business Platform at PTCL, could you share some insights regarding the implementation process. What were the greatest challenges in designing and deploying such an advanced self-service system? SAJ: The tech stack was complex, but the real challenge was human-centered design. We didn't want it to feel like a bot — we wanted it to feel like service. Integrating with PTCL's legacy systems took some creative problem-solving, but we kept the focus on speed and ease-of-use. The real magic was in continuous testing and feedback loops. It wasn't a one-shot build — it evolved through usage. BRR:Earning global recognition from Meta is a significant achievement. What does this mean for Pakistan's position in the global digital landscape? SAJ: It's a proud moment — not just for the Eocean, but for the country. It proves we can build globally relevant solutions from Pakistan that solve real problems at scale. It also signals that the world is paying attention to our ecosystem, and that's a huge opportunity — for founders, investors, and policymakers alike. BRR:WhatsApp is a widely used app in Pakistan but turning it into a full-fledged customer service platform is a game-changer. How do you see the role of messaging apps evolving in enterprise communication? SAJ: They're the new storefront. It's no longer about apps or websites — it's about conversations. Messaging apps are where intent meets action: ask a question, pay a bill, raise a ticket — all in the same chat. And that's just the start. These platforms are becoming the operating systems of customer experience. BRR:What has been Eocean's growth strategy in Pakistan over the years, and how do you plan to manage or accelerate growth in the years to come? SAJ: We've focused on solving deep-rooted communication problems — not just adding channels but redesigning how businesses interact with customers. Our growth's been driven by trust, execution, and innovation. We've worked with the largest names in banking, healthcare, and telecom — from HBL to Aga Khan Hospital. Looking ahead, we're doubling down on AI, payments, and regional expansion across the GCC and South Asia. BRR:Eocean has worked with global giants like Google, Facebook, and Visa. What unique advantages does a Pakistani cloud communications company offer to international clients? SAJ: We know how to do more with less — and we build for scale from day one. Our solutions are cost-effective, adaptable, and deeply grounded in the realities of high-volume, low-margin markets. And we move fast — not just because we must, but because we know how. Our clients range from Pakistan's biggest enterprises to banks in the Maldives. BRR:Do you believe the success of this project can serve as a blueprint for other industries in Pakistan? If so, how? SAJ: No question. The core playbook — simplify access, automate intelligently, and meet users where they are — is sector-agnostic. Whether it's education, healthcare, or financial services, this model cuts cost and boosts customer satisfaction. It's replicable and scalable. BRR:Kistpay is another bold venture. Tell us how it ties into your broader vision for a digitally inclusive Pakistan. SAJ: Smartphones are the entry point to the digital economy — but affordability is a huge barrier. With Kistpay, we've financed thousands of devices already, and we aim to reach 25,000 more this year. The idea is simple: if you can make a small down payment, you should be able to own a device — and unlock everything from learning to lending. That's inclusion in action. BRR:In your view, what are the critical policy or infrastructure changes Pakistan needs to accelerate digitization across sectors? SAJ: We need to unlock access. That starts with cheaper smartphones and reliable broadband. Beyond that, interoperability across platforms and a more streamlined regulatory environment would really move the needle. Most importantly, the government needs to treat digital services as infrastructure — not luxury BRR:With AI, cloud, and conversational commerce converging, what's next for Eocean? Are there any upcoming innovations or partnerships you can share with us? SAJ: We are building products that go beyond messaging — into mobile advertising that links the digital world with offline outcomes, and chat journeys that include commerce, payments, and even financing. We are also working on voice bots in local languages, because real inclusion means reaching people in the language they think in. BRR:Looking back at your 11+ year journey leading Eocean, what would you say has been the most pivotal moment—and what lessons did it bring? SAJ: The pandemic was a turning point. In that chaos, businesses realized how vital communication really was — and we were there to help. It taught us that when your product is mission-critical, you earn trust fast. The lesson? Stay useful, stay adaptable, and stay close to the customer. BRR: What is next for Eocean in terms of innovation, and how do you plan to continue pushing the boundaries of digital transformation in the region? SAJ: Our north star is to make enterprise communication radically simpler. We are scaling our CPaaS platform into a full-stack engagement engine — with AI, payments, and actionable insights built in. We are also expanding regionally, with active clients across the GCC and South Asia. The future is conversational — and we are building for it. Copyright Business Recorder, 2025
Business Recorder
23-05-2025
- Business
- Business Recorder
Interview with Bill Faruki, Founder & CEO of MindHYVE.ai and DV8Infosystems: ‘MindHYVE was built on the principle of equalization'
Bill Faruki is a visionary Pakistani American entrepreneur and pioneer in Artificial General Intelligence (AGI) and agentic AI. With over 25 years of experience at the intersection of technology, artificial intelligence, and strategic transformation, he is the Founder and CEO of $1.7 billion company redefining how intelligent systems serve society. A trailblazer in swarm intelligence and autonomous agentic systems, Bill's innovations are driving scalable, ethical AI solutions in healthcare, education, and legal tech. He is also a vocal advocate for responsible AI and inclusive economic growth, aiming to empower individuals through equal access to transformative technology. Following are the edited excerpts of a recent conversation BR Research had with him: BR Research: Tell us a bit about your background and how you came to found MindHYVE? Bill Faruki: I'm a Pakistani American, born and raised in Karachi. I moved to the United States in 1991, and while I had a few corporate stints, I've been an entrepreneur most of my life, particularly in financial technology. Around four years ago, I shifted toward broader software domains, and about two and a half years ago, I founded MindHYVE AI. Initially, it started as an internal research lab called Hive Labs, where we explored different types of AI models. Today, MindHYVE is a $1.7 billion company with offices in California and Lahore, building a unique kind of AI. BRR: What exactly does MindHYVE do, and how does it tie into nation-building in Pakistan? BF: MindHYVE was built on the principle of equalization. We believe that with the right ethical deployment of AI, we can equalize access to healthcare, education, legal services, and more. In Pakistan, quality services are often restricted to urban and affluent areas. Our AI can deliver world-class services at scale and at low cost, even to the most remote areas. That's what I mean by nation-building—empowering every citizen through access to critical services. BRR:You mentioned plans to seed over 30 AI startups and create thousands of jobs. How does that support your equalization strategy? BF: Equalization isn't just about services; it's also about economic opportunity. While hiring 5,000 people won't move the national employment needle on its own, it sets a precedent. If our company can achieve 10x productivity through AI, others can too. We want to inspire the private sector to use AI to grow and hire. As for startups, I plan to provide capital, technical support, and mentorship to entrepreneurs so they can commercialize AI the right way—learning how to build, position, and sell products like we do in the U.S. BRR: Do you see enough talent in Pakistan to support this vision? BF: Absolutely. I've hired thousands of people in my career, and I look for what I call the X-factor: ethical, hardworking individuals with a hunger to grow. Pakistan is full of such people. Even with a broken education system, many Pakistanis have become self-taught, literate, and creative. With access to AI and training, we could have 20, 30, or even 40 million highly educated individuals. The raw talent is here. BRR: You're also working with organizations like IDC and Al-Khidmat Foundation. What do those partnerships look like? BF: With the Islamabad Diagnostic Center (IDC), we're integrating AI into radiology and pathology, starting at their Markaz Lab and scaling to 150 labs. Our AI will assist radiologists and pathologists in making faster and more accurate diagnoses. This dramatically increases their capacity and precision. We're also embedding AI into their information systems to automate diagnostics. The same technology will be rolled out to Al-Khidmat's 56 hospitals and medical universities like Dow, GIK, and King Edward, where students will learn AI usage from the ground up. In parallel, our Arthur AI rollout with Al-Khidmat will eventually benefit over 2 million Pakistanis through advanced AI-powered vocational training programs. BRR: You often talk about agentic intelligence. How is that different from traditional AI models? BF: Traditional AI focuses on large language models (LLMs), which generate text or answer questions. We build large reasoning models, which solve problems. Our agents—or digital employees like the digital doctor or lawyer—sit on top of these models. These agents can perform complex, multi-step tasks autonomously, with deep domain understanding. That's what makes our AI truly transformative. We were doing this before it became a trend. BRR:Tell us about your collaboration with Airlink on smart hubs and TVs. What should users expect? BF: We're building smart devices with Airlink to democratize access to education and healthcare. These tablets and TVs can run offline and be deployed in rural areas. A smart TV in a home could include a digital assistant that helps with nutrition, health, schedules, and even prayer times. Because our AI is self-learning and adaptive, it will understand and respond to each household's needs. This brings the power of AI directly into people's homes. BRR: You recently proposed an AI-driven tax compliance system to the Prime Minister. What was the reception? BF: During a meeting with PM Shehbaz Sharif and other tech leaders, I proposed using AI to address the estimated PKR 700 billion in annual tax evasion. AI could provide scalable, cost-effective enforcement. The idea was well received, though I haven't had a follow-up yet due to the current political situation. But I'm hopeful this conversation continues. BRR: You've announced a $22 million investment in Pakistan's AI ecosystem. Is this committed capital? BF:Yes, but not in one lump sum. This investment will be rolled out in phases as we build out verticals in healthcare, education, and legal tech. We start with strategic plans, hire core teams, and scale as KPIs are met. Once operations show results, we push more money in. This investment is just the beginning; it will unlock revenues from other markets and bring them back to Pakistan, potentially multiplying these many times over. BRR: Given all this, how do you view Pakistan's broader investment climate? BF: Pakistan doesn't have a good global salesperson right now. Many investors simply don't understand the country. Every nation has problems—look at U.S. history. What we lack is structured risk communication and literacy. We need to explain our opportunities and risks clearly, in the language investors understand, and provide digital ambassadors or AI agents who can represent Pakistan globally. With that kind of outreach, and the right narrative, investment will follow. BRR: Final thoughts for our readers? BF: I was genuinely surprised by Pakistan's infrastructure—from NASDP to our financial systems, it's world-class. We have the talent, energy, and vision. But now it's up to all of us—citizens, media, businesses—to support this momentum. If we don't use the systems in place, they'll wither like so many past initiatives. I'm investing in Pakistan because I believe in it. Now we need collective action to realize its full potential.
