In view of imminent renewal of its licence, Jazz (the VEON Operating Company in Pakistan) has approached the Islamabad High Court to decide on the terms of licence renewal in an equitable, fair and transparent way.
According to the company statement, this measure is taken to provide uninterrupted telecom, broadband, and mobile financial services to its 58 million customers, and to ensure continuity of investments in digital infrastructure sector. Jazz is working within the country's telecom policy framework to protect the interests of foreign investors.
Jazz has petitioned the Islamabad High Court to ensure that its existing spectrum licence continues until equitable and fair renewal terms and conditions are finalised with the government of Pakistan. The digital backbone of Pakistan is dependent on the telecom industry's ability to expand its services, which requires a predictable and transparent investment environment. Jazz remains firm in its commitment to lead the digital revolution in Pakistan.
Jazz seeks to have the licence renewed as per the terms of its licence and the Telecom Policy of 2015. The licence was issued at Rs 16.8 billion in 2004 (USD 291 million equivalent) and is now worth Rs 41.4 billion (USD 291 million). While this is almost 250 percent of the original value, the company has nonetheless shown its willingness to pay this amount.
The telecom industry in Pakistan has amongst the world's lowest call rates and Jazz is one of the highest taxpayers in the country.
The federal cabinet on April 16, 2019 delayed the approval to policy for renewal of cellular mobile licences and constituted a five-member committee for further deliberations.
Pakistan Telecommunication Authority (PTA) had submitted a report to cabinet for policy renewal as was directed by the Prime Minister. It is multimillion dollars transactions and it was felt that there was need for further deliberations, he added.
PM Khan has constituted a five-member committee comprising Minister for Information Technology and Telecommunication Dr Khalid Maqbool Siddiqui, Advisor to Prime Minister on Finance Hafeez Shaikh, State Minister for Revenue Hammad Azhar, Advisor to Prime Minister Abdul Razak Dawood and Federal Minister for Privatisation Mian Mohammad Soomro for reviewing PTA report. After their consensus, the policy would be approved for renewal of mobile licences.
Comments
Comments are closed.