Zong to Pay for 4G License in Dollars

It was recently reported from Lahore that Zong, the company that recently won the 4G bid, is paying for the license in dollars. In fact, Zong is now the only organization out of the three that is willing to pay for the license in dollars as the rest are paying the price in rupees.

The chairman of the Pakistan Telecommunication Authority, Dr Ismail Shah, personally informed the press regarding this payment being made by the cellular services providers.

Analysts revealed that the Information Memorandum which was circulated before the auction clearly stated that the payment can be made in Pakistani rupees as well as US dollars. In fact, this particular clause in the memorandum was in line with the conditions that were set out in the contract which was given back in 2004.

On the other hand, the representatives of the other three companies: Mobilink, Telenor and Ufone, stated that they will be paying in rupees only.

Foreign exchange is something that Pakistan needs desperately at the moment. And this is exactly what the government insisted on right before the auction as they stated that they will be gaining foreign exchange through this particular bid.

The PTA chairman, however, claimed that this particular debate is unnecessary.  

Short URL: https://www.newspakistan.pk/?p=43414

Posted by Ahmad Mehdi on Apr 29 2014. Filed under Business, Latest News, Pakistan. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.