Govt Receives Licence Renewal Fee From Two Telecos

The government has received payment amounting to US$ 224.6 million and Rs 35.262 billion (equivalent of US$ 224.6 million) from two cellular companies Telenor and Jazz respectively as their licence renewal fee

ISLAMABAD, (UrduPoint / Pakistan Point News - 4th Sep, 2019 ):The government has received payment amounting to US$ 224.6 million and Rs 35.262 billion (equivalent of US$ 224.6 million) from two cellular companies Telenor and Jazz respectively as their licence renewal fee.

According to a statement issued by ministry of finance here on Wednesday, 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.

Due to stay orders given by the apex court, the collection of this renewal fee from two telecom companies which was budgeted in previous fiscal year had been delayed.

In this regard the government has received the significant source of non-tax revenue, which also would be increased Foreign Direct Investment (FDI) in Pakistan.

These companies will continue to operate in the country and provides seamless services to their valued customers, release said.

However, the companies shall continue to pursue their legal cases, in order to have final resolution of the mobile licences of Telenor and Jazz expired on May 26, 2019.