Technology

Two telecom companies pay Rs35.2 bn each to renew their licenses

Two telecom companies pay Rs35.2 bn each to renew their licenses

LAHORE – Two cellular companies on Tuesday paid a total fee of Rs35.262 billion (US$ 224.6 million) each to the government to renew their licenses.

In a statement released by Ministry of Finance, the license renewal fee of telecom companies collected by Pakistan Telecommunication Authority 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.

However, with the efforts of the Adviser to Prime Minister Dr Abdul Hafeez Shaikh, his team led by Secretary Finance and Pakistan Telecommunication Authority, due payment from the two companies has now been received by the government.