3G licence auction may fetch over $1b

STAFF REPORT IBD: The government of Pakistan is expected to get over one billion US dollars through the auction of 3G licences as against a minimum target of $850 million, resulting positive impacts on economy mainly to contain a widening fiscal deficit of the country.
“The governments projected privatization proceeds of $800 million of PTCL will add handsome financial inflows to the state kitty along with different sources such as issuance of $500 million “euro bonds” and $800 million from CSF,” Yaseen Anwar Governor SBP told the media. He appreciated the govt efforts for auction of 3G licences.

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