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Business & Finance PTC (Pakistan Telecommunication Company Ltd) 8.80 Decreased By ▼ -1.68%

PTA renews Integrated License of PTCL for next 25 years

  • It is pertinent to inform that PTCL integrated license was issued for 25 years effective from 1st January 1996 and valid until 31st December 2020; therefore-subsequent renewal was required effective from 1st January 2021.
13 Jan 2021

Pakistan Telecommunication Authority (PTA) has renewed the integrated license of Pakistan Telecommunication Company Limited (PTCL), which was expired on 1st January 2021 after 25 years.

“We are pleased to announce that the integrated telecom license of Pakistan Telecommunication Company Limited (PTCL) for fixed line telecom services has been renewed by Pakistan Telecommunication Authority (PTA) on January 13th, 2021,” informed PTCL in its filing at the Pakistan Stock Exchange (PSX) on Wednesday.

PTCL informed that the PTA has renewed the integrated telecom license of the company for the next 25 years effective from January 1st, 2021.

It is pertinent to inform that PTCL integrated license was issued for 25 years effective from 1st January 1996 and valid until 31st December 2020; therefore-subsequent renewal was required effective from 1st January 2021.

As per terms of the PTCL license, PTCL initiated the renewal process by formally requesting Pakistan Telecommunication Authority (PTA) on 29 June 2018 (30 months prior to the expiry/validity of the license). PTCL informed that it has sought a permanent injunction on 18th December 2020 from the Sindh High Court at Karachi by way of filing Suit No 2081/ 2020 wherein PTA is restrained from taking any adverse action against PTCL on expiry of license on 31st December 2020, and not to interfere in the business of PTCL and the provision of services on the basis of a license.