Govt Gets $450 Million from Two Telcos for Renewal of GSM Licenses - Android

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Govt Gets $450 Million from Two Telcos for Renewal of GSM Licenses - Android

The government of Pakistan has received payment amounting to US$ 449.2 million (equivalent of around PKR 71 billion) from two Read More

The post Govt Gets $450 Million from Two Telcos for Renewal of GSM Licenses appeared first on .

The government of Pakistan has received payment amounting to US$ 449.2 million (equivalent of around PKR 71 billion) from two cellular companies respectively as their licence renewal fee.

According to the Ministry of Finance, the license renewal fee of telecom companies collected by Pakistan Telecommunication Authority (PTA) is a significant source of non-tax revenue for the federal government.

Telenor Pakistan confirmed ProPakistani that it has made the said payment.

“Staying committed to Pakistan and our 44 million customer, Telenor Pakistan confirms that it has made a sizeable payment of USD 224.6 million to the Government of Pakistan towards renewal of its GSM license”, said Kamal Ahmed, Chief Carporate Affairs Officer, Telenor Pakistan.

He went on to comment that move was made after his company voluntarily offered to pay the license renewal fee under protest two weeks ago.

“Telenor Pakistan believes that this significant FDI contribution is in line with its vision of social empowerment and will benefit the economy of Pakistan. As for the matter of license renewal, it is sub judice and we cannot further on the issue”, the spokesperson said.