PTA Receives Rs. 24.2 Billion License Renewal Fee From Jazz

Pakistan Telecommunication Authority (PTA) has received a deposit amounting to Rs. 24.24 billion (the equivalent of USD 105.80 million) from Pakistan Mobile Communications Limited (Jazz) on account of license renewal fees. The amount is being 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 will become Rs. 56.57 billion (equivalent to USD 253.78 million), stated a press release issued by the telecom regulator. The PTA has so far deposited $1.79 billion equivalent to Rs. 300 billion in Federal Consolidated Fund (FCF), received from cellular mobile license renewals and spectrum auctions since 2019. The government has budgeted Rs. 50 billion for 3G/4G license renewal as well as 5G under the head of non-tax revenue for the current fiscal year 2022-23 against Rs. 45.43 billion budgeted for the last fiscal year which was later revised to Rs. 100 billion.