The development of Paksat-1R satellite is progressing according to schedule and the satellite would be launched as per plan, said a press release issued here on Thursday.

The timely development and launch of the satellite is important as Paksat-1 is reaching the end of its service life next year.

The government realises the significance of this project of national importance and has, therefore, been meeting its financial obligation and would continue to provide funds to the project, despite the many financial constraints it is facing.