USF Policy Committee Approves Release of Rs. 4.37 Billion for Q4

The Universal Service Fund (USF) Policy Committee on Tuesday approved the release of Rs. 4.370 billion to USF for the fourth quarter of fiscal year 2022-23 (FY23). Federal Minister for IT and Telecommunication Syed Amin Ul Haque chaired Universal Service Fund (USF) Policy Committee meeting. Secretary IT Navid Ahmed Shaikh was also present at the meeting. USF CEO Haaris Mahmood Chaudhary apprised the committee about the ongoing projects, adding that funds are available for the payment in phases for these projects in the current year, while a further Rs. 33 billion will be required in the year 2024 for overall payments by the company. He said that on the direction of the IT minister, 65 projects worth over Rs. 70 billion were launched during the last four years for providing broadband services to masses in far-flung areas of the country. The Ignite Policy Committee meeting was also held today under the chairmanship of the IT minister. The meeting gave approval for releasing Rs. 199 million to Ignite for the fourth quarter of the current financial year. Earlier, Ignite CEO Asim Shahryar Husain briefed the chair about the ongoing projects. The minister also presided over the 56th Board Director (BoD) meeting of the Pakistan Software Export Board (PSEB). The meeting was apprised about the appointment of new PSEB CEO Syed Ali Raza. The meeting was attended by Member IT Syed Junaid Imam, Chairman P@SHA Zohaib Khan, and others.