The Pakistan Telecommunication Company Limited (PTCL) integrated license was expired on 1st January 2021 after 25 years.

PTCL in a filing to the bourse on Monday stated: 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 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 the regulator responded in affirmative vide its letter dated 1st October 2018 that PTCL license will be renewed in accordance with the government policy prevalent at the time of renewal.

“Therefore, in the interest of business continuity and operations, PTCL 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,” it said.

PTCL added that it remains in discussion with PTCL and the Federal Government to finalize the term and condition of the renewed license. “PTCL is confident that license will be renewed at the earliest,” it said.