{"id":94627,"date":"2024-12-10T15:16:09","date_gmt":"2024-12-10T15:16:09","guid":{"rendered":"https:\/\/nationaltimes.pk\/eng\/?p=94627"},"modified":"2024-12-10T15:16:09","modified_gmt":"2024-12-10T15:16:09","slug":"engro-eyes-tower-sharing-expansion-with-veon-tie-up","status":"publish","type":"post","link":"https:\/\/nationaltimes.pk\/eng\/2024\/94627\/","title":{"rendered":"Engro eyes tower sharing expansion with Veon tie-up"},"content":{"rendered":"\n<p>Pakistan(National Times)- KARACHI: Pakistan\u2019s largest conglomerate Engro through its strategic partnership with Veon is eyeing expanding telecom tower-sharing coverage in Pakistan and exploring different use cases in telecom infrastructure. &#8220;Pakistan is a very large market in terms of telecom, which keeps growing larger,&#8221; Samad Dawood, vice chairman of Dawood Hercules, which owns 40% of Engro, told\u00a0<em>Reuters<\/em>. &#8220;This infrastructure business, with scale, allows us to utilise telecom infrastructure better in Pakistan and eventually also serve international markets as well,\u201d said Dawood, identifying countries from &#8220;the Atlantic coast of Morocco all the way to Central Asian states&#8221; as potential markets. Engro and Dutch telecommunication and digital services company Veon announced last week plans to pool and manage their infrastructure assets in Pakistan. The companies plan expanding tower sharing coverage to other operators and looking into its other use cases, which could include electronic vehicle charging and drone landing. Under the partnership, Engro will pay Jazz, Veon\u2019s digital operator in Pakistan, $188 million and will guarantee the repayment of Deodar\u2019s intercompany debt of $375 million. This remains subject to corporate and regulatory approvals. Deodar, under Veon, has a total tower count of 10,500 in Pakistan, while Engro&#8217;s existing tower count under Engro Enfrashare is 4,063 towers according to Topline Securities. Earlier this year, Engro&#8217;s Dawood said restructuring would allow the firm to tap into broader economic opportunities, citing a challenging macroeconomic environment as a reason for the company&#8217;s restructuring. Pakistan is navigating a challenging economic recovery path, having completed a $3 billion IMF bailout in April and now undertaking a $7 billion, 37-month bailout, approved in September, to ensure macroeconomic stability. However, Dawood now says that things have changed, which have led to Engro&#8217;s largest transaction in Pakistani rupee terms. &#8220;The actions taken in Pakistan over the last few quarters, along with hard decisions for macroeconomic stability, have led to this deal,&#8221; he said, adding that interest rates and inflation falling, combined with Pakistan&#8217;s ongoing IMF programme, have also helped.&#8221; Pakistan slashed interest rates to 15% in November from a record high of 22% earlier this year. Inflation has slowed down to 4.9% in November, from a multi-decade high of almost 40% in 2023. \u201cThe incoming macro stability and IMF\u2019s seal of approval has a huge impact on foreign financiers to look at Pakistan as an investable market,\u201d Dawood said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pakistan(National Times)- KARACHI: Pakistan\u2019s largest conglomerate Engro through its strategic partnership with Veon is eyeing expanding telecom tower-sharing coverage in Pakistan and exploring different use cases in telecom infrastructure. &#8220;Pakistan is a very large market in terms of telecom, which keeps growing larger,&#8221; Samad Dawood, vice chairman of Dawood Hercules, which owns 40% of Engro, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":94628,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-94627","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Engro eyes tower sharing expansion with Veon tie-up - Nation<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationaltimes.pk\/eng\/2024\/94627\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Engro eyes tower sharing expansion with Veon tie-up - Nation\" \/>\n<meta property=\"og:description\" content=\"Pakistan(National Times)- KARACHI: Pakistan\u2019s largest conglomerate Engro through its strategic partnership with Veon is eyeing expanding telecom tower-sharing coverage in Pakistan and exploring different use cases in telecom infrastructure. &#8220;Pakistan is a very large market in terms of telecom, which keeps growing larger,&#8221; Samad Dawood, vice chairman of Dawood Hercules, which owns 40% of Engro, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationaltimes.pk\/eng\/2024\/94627\/\" \/>\n<meta property=\"og:site_name\" content=\"Nation\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-10T15:16:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2024\/12\/image-670x370-2024-12-10T201318.346.png\" \/>\n\t<meta property=\"og:image:width\" content=\"670\" \/>\n\t<meta property=\"og:image:height\" content=\"370\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"humza Jahangir\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"humza Jahangir\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2024\/94627\/\",\"url\":\"https:\/\/nationaltimes.pk\/eng\/2024\/94627\/\",\"name\":\"Engro eyes tower sharing expansion with Veon tie-up - Nation\",\"isPartOf\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2024\/94627\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2024\/94627\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2024\/12\/image-670x370-2024-12-10T201318.346.png\",\"datePublished\":\"2024-12-10T15:16:09+00:00\",\"author\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#\/schema\/person\/27efa35fa76e99f3ad7e7397d7332c16\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2024\/94627\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationaltimes.pk\/eng\/2024\/94627\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2024\/94627\/#primaryimage\",\"url\":\"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2024\/12\/image-670x370-2024-12-10T201318.346.png\",\"contentUrl\":\"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2024\/12\/image-670x370-2024-12-10T201318.346.png\",\"width\":670,\"height\":370},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2024\/94627\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationaltimes.pk\/eng\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Engro eyes tower sharing expansion with Veon tie-up\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#website\",\"url\":\"https:\/\/nationaltimes.pk\/eng\/\",\"name\":\"Nation\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationaltimes.pk\/eng\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#\/schema\/person\/27efa35fa76e99f3ad7e7397d7332c16\",\"name\":\"humza Jahangir\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/43feedd99bd6a90080d1621b7e6604364acb673ee979d3ffe5075557c14c68b9?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/43feedd99bd6a90080d1621b7e6604364acb673ee979d3ffe5075557c14c68b9?s=96&d=mm&r=g\",\"caption\":\"humza Jahangir\"},\"url\":\"https:\/\/nationaltimes.pk\/eng\/author\/humza\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Engro eyes tower sharing expansion with Veon tie-up - Nation","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationaltimes.pk\/eng\/2024\/94627\/","og_locale":"en_US","og_type":"article","og_title":"Engro eyes tower sharing expansion with Veon tie-up - Nation","og_description":"Pakistan(National Times)- KARACHI: Pakistan\u2019s largest conglomerate Engro through its strategic partnership with Veon is eyeing expanding telecom tower-sharing coverage in Pakistan and exploring different use cases in telecom infrastructure. &#8220;Pakistan is a very large market in terms of telecom, which keeps growing larger,&#8221; Samad Dawood, vice chairman of Dawood Hercules, which owns 40% of Engro, [&hellip;]","og_url":"https:\/\/nationaltimes.pk\/eng\/2024\/94627\/","og_site_name":"Nation","article_published_time":"2024-12-10T15:16:09+00:00","og_image":[{"width":670,"height":370,"url":"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2024\/12\/image-670x370-2024-12-10T201318.346.png","type":"image\/png"}],"author":"humza Jahangir","twitter_card":"summary_large_image","twitter_misc":{"Written by":"humza Jahangir","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/nationaltimes.pk\/eng\/2024\/94627\/","url":"https:\/\/nationaltimes.pk\/eng\/2024\/94627\/","name":"Engro eyes tower sharing expansion with Veon tie-up - Nation","isPartOf":{"@id":"https:\/\/nationaltimes.pk\/eng\/#website"},"primaryImageOfPage":{"@id":"https:\/\/nationaltimes.pk\/eng\/2024\/94627\/#primaryimage"},"image":{"@id":"https:\/\/nationaltimes.pk\/eng\/2024\/94627\/#primaryimage"},"thumbnailUrl":"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2024\/12\/image-670x370-2024-12-10T201318.346.png","datePublished":"2024-12-10T15:16:09+00:00","author":{"@id":"https:\/\/nationaltimes.pk\/eng\/#\/schema\/person\/27efa35fa76e99f3ad7e7397d7332c16"},"breadcrumb":{"@id":"https:\/\/nationaltimes.pk\/eng\/2024\/94627\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/nationaltimes.pk\/eng\/2024\/94627\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nationaltimes.pk\/eng\/2024\/94627\/#primaryimage","url":"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2024\/12\/image-670x370-2024-12-10T201318.346.png","contentUrl":"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2024\/12\/image-670x370-2024-12-10T201318.346.png","width":670,"height":370},{"@type":"BreadcrumbList","@id":"https:\/\/nationaltimes.pk\/eng\/2024\/94627\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/nationaltimes.pk\/eng\/"},{"@type":"ListItem","position":2,"name":"Engro eyes tower sharing expansion with Veon tie-up"}]},{"@type":"WebSite","@id":"https:\/\/nationaltimes.pk\/eng\/#website","url":"https:\/\/nationaltimes.pk\/eng\/","name":"Nation","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/nationaltimes.pk\/eng\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/nationaltimes.pk\/eng\/#\/schema\/person\/27efa35fa76e99f3ad7e7397d7332c16","name":"humza Jahangir","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nationaltimes.pk\/eng\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/43feedd99bd6a90080d1621b7e6604364acb673ee979d3ffe5075557c14c68b9?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/43feedd99bd6a90080d1621b7e6604364acb673ee979d3ffe5075557c14c68b9?s=96&d=mm&r=g","caption":"humza Jahangir"},"url":"https:\/\/nationaltimes.pk\/eng\/author\/humza\/"}]}},"_links":{"self":[{"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/posts\/94627","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/comments?post=94627"}],"version-history":[{"count":1,"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/posts\/94627\/revisions"}],"predecessor-version":[{"id":94629,"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/posts\/94627\/revisions\/94629"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/media\/94628"}],"wp:attachment":[{"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/media?parent=94627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/categories?post=94627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nationaltimes.pk\/eng\/wp-json\/wp\/v2\/tags?post=94627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}