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Express Tribune
3 days ago
- Business
- Express Tribune
USF approves seven projects worth Rs7.4b
The Universal Service Fund (USF) has greenlit seven transformative projects worth Rs7.49 billion, aiming to provide high-speed internet and seamless mobile connectivity to 0.96 million residents in 347 mauzas across 10 districts. The two Optical Fiber Cable (OFC) projects will enable high-speed fixed broadband services for 2.8 million residents in two districts. The amount was approved by the Fund's board of directors. The USF was established by the information ministry to spread the benefits of the telecom revolution across the country. It promotes the development of telecommunication services in un-served and under-served areas.
Business Recorder
3 days ago
- Business
- Business Recorder
USF approves Rs7.5bn for mobile connectivity, high-speed internet projects
The Universal Service Fund's (USF) Board of Directors has approved Rs7.49 billion for projects related to high-speed internet and seamless mobile connectivity, according to a USF statement on Sunday. The initiatives would provide high-speed internet and seamless mobile connectivity to 960,000 residents in 347 mauzas across 10 districts, while two Optical Fiber Cable (OFC) projects would enable high-speed fixed broadband services for 2.8 million residents in two districts, it added. 'This ambitious endeavour involves laying 940km of OFC and connecting 113 towns and union councils, effectively bridging the digital divide and empowering remote communities nationwide,' USF said. Cabinet approves new directors on USF board The USF Board of Directors' 98th meeting took place at USF's Head Office, chaired by Zarar Hasham Khan, Secretary Ministry of IT & Telecommunication (MoIT&T). The attendees included Member Telecom M. Jahanzeb Rahim, Muhammad Yousuf and CEO Universal Service Fund Chaudhry Mudassar Naveed while Ms Ayla Majid joined the meeting through video link. Addressing to the meeting, Zarar Hasham Khan, Chairman of the Board said the USF 'is revolutionising the digital landscape of Pakistan'. 'Not only we are launching new projects, but we're also ensuring the timely completion of our ongoing initiatives, strictly adhering to our targets.' Chairman of the USF board added that USF's transformative projects had empowered over 37 million people, bridging the digital divide and unlocking opportunities for talented youth and women from remote areas to thrive as freelancers and startups. 'This monumental achievement underscores USF's pivotal role in catapulting Pakistan's IT industry to new heights and significantly boosting IT exports, thereby cementing the nation's position as a burgeoning tech hub.' Chief Executive USF, Chaudhry Mudassar Naveed, briefed the meeting on ongoing, completed, and upcoming projects. The board appreciated USF's contributions to spreading connectivity in far-flung areas, noting that its projects not only provide digital connectivity but also significantly support the development of Pakistan's IT and telecom sector, particularly by enhancing input connectivity in rural and remote areas, which has a substantial impact, the USF statement read. According to the details of a decision, the USF board approved the award of seven projects to the lowest bidder after fulfilling the due process, 'ushering in a new era of digital connectivity in Pakistan'. Notably, two OFC projects, spanning 940km in two districts at a value of over Rs5.65 billion, according to the USF. 'These projects will revolutionise digital services in Sanghar and Jhang districts, enabling approximately 2.8 million residents to connect. The Sanghar project will lay 415km of optical fibre cable, while the Jhang project will cover 525km. 'Upon completion, these projects will empower the residents of 113 towns and union councils with high-speed internet, effectively bridging the digital divide and unlocking opportunities for local communities to thrive in the digital world.' Satellite internet key to bridging Pakistan's digital divide: Shaza Meanwhile, five broadband services projects, valued at over Rs1.83 billion, were awarded to another lowest bidder after fulfilling stringent tender requirements. The projects would bring 4G services to over 965,000 residents in 347 un-served and under-served areas across 10 districts, including Attock, Khushab, Sargodha, Bahawalpur, Faisalabad, Hafizabad, Sheikhupura, Chiniot, Badin, and Abbottabad, the USF said. 'This initiative will bridge the digital divide, foster economic growth, and empower communities with access to high-speed internet.'
Business Upturn
03-06-2025
- Business
- Business Upturn
Jefferies maintains ‘Buy' on Finolex Cables, sees strong housing & construction play
Jefferies has reiterated a Buy rating on Finolex Cables with a target price of ₹1,235, viewing the company as a strong play on India's housing and construction growth. Q4FY25 results beat estimates slightly, with sales up 14% YoY. After taking a 12–13% price hike in FY25, the company implemented another small price increase in late May 2025. Jefferies expects a robust opportunity in Optical Fiber Cable (OFC) through BharatNet, while the ongoing 5G rollout and data center expansion will further drive the Communication segment. The brokerage estimates a +19% PAT CAGR over FY25–28, along with a +370bps RoCE expansion. Disclaimer: The views and target prices mentioned in this article are as stated by Jefferies. They do not represent the opinions or recommendations of this publication. Readers are advised to consult their financial advisors before making any investment decisions. Markets Desk at
New Indian Express
21-05-2025
- Business
- New Indian Express
Telangana Dy CM Bhatti visits Bengaluru to inspect major underground cabling project
HYDERABAD: Deputy Chief Minister Mallu Bhatti Vikramarka on Tuesday visited Bengaluru for an in-depth review of the city's large-scale underground cabling initiative undertaken by the Bangalore Electricity Supply Company Limited (BESCOM). The visit is part of the state government's ongoing efforts to modernise urban infrastructure and enhance the reliability, safety and aesthetics of power supply systems in rapidly expanding metropolitan areas. As part of the visit, a high-level review meeting was held with BESCOM officials. Presentations were made by Pankaj Pandey, MD, Karnataka Power Transmission Corporation Limited and Bengaluru Electricity Supply Company, along with his team. They briefed Vikramarka on the overhead (OH) to underground (UG) power conversion Project — considered one of India's most comprehensive urban power infrastructure transformations. Launched in 2018–19, the project has already converted over 7,400 kilometres of 11kV OH lines and thousands of kilometers of low-tension lines into UG or aerial bunched (AB) cables. A key innovation has been the installation of Optical Fiber Cable (OFC) ducts along UG routes to facilitate future telecom leasing, creating a potential revenue stream. During the meeting, the deputy CM inquired about the project's design and implementation challenges. He also examined the financial structuring, which includes funding from the Asian Development Bank (ADB), Rural Electrification Corporation (REC), and other public sector banks. BESCOM officials reported that the UG conversion has already led to a reduction in technical losses and electrical accidents by up to 2%.
Hans India
21-05-2025
- Business
- Hans India
Bhatti in Bengaluru to study underground cable system
Bengaluru / Hyderabad: Deputy Chief Minister Bhatti Vikramarka Mallu on Tuesday visited Bengaluru for an in-depth review of the city's large-scale underground cabling initiative undertaken by the Bangalore Electricity Supply Company Limited (BESCOM). The visit was part of the Telangana government's ongoing efforts to modernise urban infrastructure and improve power supply systems' reliability, safety, and aesthetics in rapidly growing metropolitan areas. The day began with a high-level review meeting hosted by BESCOM officials. The project, launched in 2018-19, had already converted over 7,400 kilometres of 11kV OH lines and thousands of kilometres of low-tension lines into UG or aerial bunched (AB) cables. A key innovation has been the laying of Optical Fiber Cable (OFC) ducts along the UG cable routes to enable future telecom leasing as a revenue stream. The Dy CM asked questions related to design and implementation challenges, some of which were – the financial structuring of the project, which includes loans from the Asian Development Bank (ADB), Rural Electrification Corporation (REC), and other public sector banks, the reduction in technical losses and electrical accidents, which BESCOM confirmed had fallen by up to two per cent since the UG implementation, the readiness of OFC infrastructure for commercial use, to which BESCOM responded that while ducts are in place, last-mile coordination with telecom operators and BBMP, the role of Ring Main Units (RMUs) in ensuring system reliability and reducing downtime during faults. The Deputy CM expressed appreciation for the scale and execution discipline of the project, while also noting the importance of integrating learnings into Telangana's upcoming urban grid modernisation programmes, particularly for Future City. Later in the day, Vikramarka visited a pilot site in Malleshwaram (15th Cross), where an Underground Distribution network including underground Transformer (DTR) system has been implemented. The site showcased how DTRs can be housed in fully buried chambers with accessible maintenance panels at street level, freeing up urban space and improving safety. During the field visit, Bhatti Vikramarka engaged directly with engineers and contractors on-site, reviewing safety protocols, load balancing techniques, and provisions for emergency repairs. He noted how such innovations could be especially valuable in Telangana's densely populated urban corridors. Presentations were made by Karnataka Power Transmission Corporation Limited, and Bengaluru Electricity Supply Company MD Pankaj Pandey and their team on the Bengaluru Overhead (OH) to Underground (UG) Power Conversion Project, which has emerged as one of India's most comprehensive urban power infrastructure transformations. Officials from the Government of Telangana, including Krishna Bhaskar, CMD, TRANSCO and Musharraf Faruqi, CMD, SPDCL also participated in the discussions.
