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Telenor will pay huge sum to PTA for license Renewal.

On Wednesday Telenor Pakistan announced that it has offered the sum of $224.6 million to government, though the company raises questions regarding the amount demanded by the government.

Previously, this license was acquired in 2004 by Jazz and Telenor. The auction was locked at $291 million, the previous license expired 2 months back. The government has asked both the companies to present $450 million, in order to renew their license. The stated figure was decided on the basis of previous years.

Telenor issues a press release stating, the renewal of the license is further delayed PTA (Pakistan Telecommunication Authority) and the company is dealing with unfair pricing set by the government for the license removal.  The company also stated, if these conditions are implemented, the competitive element would be gone from the telecommunication industry.

A statement released by the company stated that; “Telenor Pakistan has been very keen towards a timely renewal of its telecom license and, in the past two years, tried its utmost towards a fair and transparent outcome.”

The company specifically wanted to safeguard the interest of its users and will do everything under the guidelines in the book of the law.

The company concluded the statement by adding; “The Company remains hopeful of a fair outcome and looks forward to the government and PTA to fulfill its commitment to ensuring fair competition and forward-looking policies and regulations”.

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