Pakistan Telecommunication Authority (PTA) has received Rs. 11.43 Billion (equivalent to USD 52.44 million) against the third annual installment of license renewal fee from CMPak Limited (Zong) in line with payment terms of the license renewed in the year 2019.
The amount has also been deposited in Federal Consolidated Fund (FCF). With this deposit in FCF, the cumulative deposit by PTA in FCF during the current financial year i.e. 2022-23 has reached Rs. 22.98 billion (equivalent to USD 106 million).
PTA has so far deposited USD 1.79 Billion in equivalent Pakistani Rupees amounting to Rs. 300 billion in FCF, received from cellular mobile license renewals and spectrum auctions since 2019.
Editorial & Legal Practice Group
Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
Advocates High Court & Tax Counsel
Jurisdiction: Pakistan