The license is renewed for a fee of USD 486.2 million for 15 years, of which Jazz has paid 50% and the remaining amount will be paid in 5 equal annual instalments.
Pakistan Telecommunication Authority (PTA) has received a deposit of Rs. 24.24 billion (USD 105.80 million) from Pakistan Mobile Communications Limited (Jazz) for license renewal fees.
The funds have been deposited in the Federal Consolidated Fund (FCF). With this deposit in FCF, PTA’s total deposit in FCF for the current fiscal year, 2022–23, will be Rs. 56.57 billion (equivalent to USD 253.78 million).
In accordance with the Federal Government’s Policy Directive, Pakistan Mobile Communications Limited (Jazz) has renewed its license with the Pakistan Telecommunication Authority (PTA).
The Federal Government of Pakistan’s policy directive requires telecommunications companies operating in the country to renew their licenses with the Pakistan Telecommunication Authority (PTA) in order to continue providing services to customers.
The license is renewed for a fee of USD 486.2 million for 15 years, of which Jazz has paid 50%, or Rs. 44.54 billion (equivalent to USD 243.1 million), and the remaining amount will be paid in 5 equal annual instalments, plus applicable markup. The terms and conditions for coverage and quality of service have been improved in the renewed license.
Dr. Muhammad Sohail Rajput, Federal Secretary for IT & Telecommunication; Maj. General Amir Azeem Bajwa (R), Chairman PTA; Dr. Khawar Siddique Khokhar, senior management of PMCL (Jazz), PTA, MOIT & FAB, Member Compliance & Enforcement (PTA), and others attended today’s licence renewal ceremony at PTA.
The Federal Consolidated Fund (FCF) established by the government to consolidate all of its revenue and expenditure. The FCF is the main account into which all government revenues, such as taxes, are deposited and from which all government expenditures, such as spending on public services and debt repayment, are made.
The FCF is typically managed by the country’s central bank or treasury department and is subject to oversight and control by the country’s parliament or other legislative body. The purpose of the FCF is to ensure that government finances are managed in a transparent and accountable manner and to provide a clear picture of the government’s overall financial position.