ISLAMABAD: The Ministry of Information Technology and Telecommunication has sought the Economic Coordination Committee (ECC) of the Cabinet’s approval for National Telecommunication Corporation (NTC)’s revenue budget of Rs5.236 billion and operating cost Rs5.063 billion for the financial year 2022-23.
The ministry has moved a summary to the ECC with respect to NTC revised budget estimates for 2021-22 and budget estimates for 2022-23. The ECC is likely to consider the NTC agenda in the next meeting, official sources revealed to Business Recorder.
The NTC established under the Telecom Re-organization Act, 1996, is mandated to provide ICT services to federal government, armed forces, defence projects, provincial governments and to all government institutions (autonomous/ semi-autonomous bodies).
In accordance with Rule 41(7) Rule (8) of Pakistan Telecommunications (Re-organization) Act, 1996, NTC shall, prepare its budget and submit it for approval of the federal government before the 1st June every year. Accordingly, the NTC submitted its proposed budget for the financial year 2022-2023 to the Ministry of IT and Telecom after its approval from NTC Audit Committee and Management Board for concurrence of the Finance Division.
Sources revealed that the Finance Division dated 2nd February 2023 made some observations on the budget of NTC and requested to incorporate the views/ comments in the summary for the ECC of the Cabinet.
Accordingly, Finance Division’s observations were responded vide NTC’s letter dated 15 February 2023.
As per recommendations of the NTC Audit Committee, the NTC Management Board and views of Finance Division, the Ministry of Information Technology and Telecommunication proposed the following: (i) NTC’s revenue budget Rs5.236 billion and Annual Development Programme (ADP) Rs1.580 billion and operating cost Rs5.063 billion for the financial year 2022-23, along-with its enclosures; (ii) NTC’s revised estimates of revenue budget Rs4.669 billion, ADP Rs1.260 billion and operating cost Rs4.585 billion for the financial year 2021-22.
Copyright Business Recorder, 2023