PTA renews PTCL license for another 25 yearsAbdul Gh Lone 13 January 2021 0 COMMENTS
The Pakistan Telecommunication Authority (PTA) has renewed PTCL’s license to operate in the country for another 25 years.
PTCL informed the Pakistan Stock Exchange about the renewal on Wednesday.
PTCL’s 25 year license expired on December 31, 2020. The new license is effective from January 1, 2021.
The company obtained its 25-year licence in 1996. On January 2, it was reported that the licence had not been renewed and that the company was operating without a license.
The Pakistan Telecom Limited has issued a notice to the PSX informing it of this development.
The PTCL spokesperson said the PTA was sent a request to extend the licence in 2018 but the authority replied that when the licence expires a decision will be made according to the government policy at the time.
Sources said there was a dispute between the government and PTCL over the payment of $800 million, which is why the licence has not been renewed.