3G license auction concludes, all four companies win various bids
The 3G and 4G licenses will be issued for next 15 years.
ISLAMABAD (Dunya News) – The process of 3G license concluded on Wednesday evening, with four licenses sold for one hundred eleven billion rupees. All four companies won various auctions and Zong additionally qualified for 4G license, Dunya News reported.
The bidding lasted eight rounds where four companies offered an accumulated amount of 90 crore 28 lakh dollars. The offer was not raised after fourth bid was received.
According to Pakistan Telecommunication Authority (PTA) chairman Dr Ismail Shah, Zong won the bid of 3G 10 megahertz license.
According to reports, Mobilink also acquired 10 megahertz license. Telenor and Ufone acquired 5 megahertz licenses.
Zong also qualified to acquire 4G license.
The second license of 4G band could not be sold and its auction will be decided upon later. Finance Minister Ishaq Dar said that the target to raise money out through 3G license auction in the past was only 50 billion rupees, yet the current government acquired one hundred and eleven billion rupees out of the auctions.
The auction of 4G license will accumulate an additional amount of 50 billion rupees.
Successful bidders have to make 50% payment within 30 days and remaining amount has to be paid in equal installments in next five years.
The 3G and 4G licenses will be issued for next 15 years.
