The auction of GSM Licence, previously owned by Instaphone, would be done in March 2012, announced Pakistan Telecommunication Authority in a statement issued here last week. The decision for auction was taken in the last meeting of the federal cabinet.
According to the decision, new international players as well as the existing operators would also be invited for the Instaphone licence auction being the sixth of the existing licensee in the country and not a new licensee.
The auction of the 800 MHz is believed to attract a handsome investment of over $291 million, which was initial cost of the licence.
It is to be mentioned here that on January 4, 2008, the PTA had terminated the licence of phone due to the companys failure to pay the outstanding dues for the licence renewal fee ($291million) they agreed to in April 2005.
Pakcom, the company that runs Instaphone, failed to meet the payment schedule of $291 million for getting the operating license renewed for next 15 years from 2005.
Instaphone was a telecommunications company inPakistanand the pioneer of cellular industry inPakistan. The company was initially owned by Millicom International and was acquired later by the Arfeen Group.