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Saturday, July 1, 2017

#Jazz buys 4G spectrum licence at $325.5 million - Mobilink successfully bid

4G spectrum licence awarded to Jazz at $325.5 million

The government has awarded 4G spectrum license to Mobilink Jazz at $ 325.5 million, which includes $ 295 million spectrum base price and $ 30.5 million taxes. The successful bidder Mobilink Jazz won the 4G spectrum bid in May 2017 and on Friday paid the entire amount of $ 325.5 million to the government of Pakistan. The spectrum award ceremony was presided over by Finance Minister Muhammad Ishaq Dar and also attended by State Minister for Information Technology and Telecommunication Anusha Rehman.

Speaking on the occasion, Dar said that the government's initiatives and investment in the information technology sector will open new avenues of progress and development in the country. Dar said that the government believes in transparency and good governance for running day-to-day business in all sectors. He said that the country is moving towards digital country that will improve living standard of the common man.

The finance minister said that the President has signed the Finance Bill 2017, adding it will be promulgated from tomorrow. Anusha Rehman said that the successful bidder has deposited total amount of $ 325.5 million into the government's account. She said that 60 megahertz spectrum has been licensed during the last three years. The minister said that Pakistan has potential to generate additional finances through auctioning the latest developments in the information technology sector.

The minister of state said that 5-G will be introduced in 2020 and its will be tested in Pakistan. She expressed confidence that Pakistan will adopt the new technology before all other Asian countries. She said the number of broadband users in the country has increased from 3.7 million to 44 million during the last four years. Speaking on the occasion, Chairman Pakistan Telecommunication Authority Syed Ismail Shah said that world communication institutions are acknowledging and appreciating Pakistan's efforts and successes in this field.

Chief Executive Officer of Mobilink Aamir Ibrahim said that the transparent award of the contract has improved confidence of investors, adding that they are ready to invest more in this sector in Pakistan. The government has estimated Rs 75 billion revenue generation from auctioning 3G/4G spectrum in budget 2016-17, but the latest auction generated Rs 34 billion including taxes. Earlier govt auctioned 3G/4G spectrum at Rs 43 billion to Telenor.

Source:  Business Recorder, 01 July 2017



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