Jordan Times
Wednesday, April 21, 1999
JTC needs JD340m of investments
AMMAN (Petra) — Minister of transport, telecommunications and post on Tuesday said the Jordan Telecommunications Company (JTC) needs JD340 million worth of investments to be able to provide high quality service.
Addressing a press conference held at the ministry, Jamal Saraireh stressed the need for Arab and foreign investments in the telecommunications sector to cope with the rapid developments in this field.
However, he said, the telecommunications sector is progressing well despite major challenges posed by the rapid advances in technology and the tough competition by telecommunication companies in the neighbouring countries.
Saraireh said the JTC will continue to be the only provider for the regular telephone service until the year 2003, when a licence for another company will be issued.
On the mobile telephone service, Saraireh said the JTC hopes to provide this service before the end of this year, in addition to providing the Internet service through a company owned by the JTC.
Referring to security fears resulting from using the latest telecommunication technology, Saraireh said such fears are unjustifiable at a time when satellites can monitor anything around the clock, adding that the defence and telecommunication laws in the Kingdom do not allow for such fears.
Reviewing the corporation's financial situation, Saraireh said the company is financial standing is solid, adding that the company's expected to collect JD217 million in revenues by the end of this year.