Saturday, June 15, 2024

Major Setback! Pakistan to Lose Rs. 32 Billion for 5G Auction Failure

The country is expected to face a shortfall of about Rs32 billion in non-tax revenue from 5G licenses for the fiscal year 2023-24. This deficit is due to the spectrum auction not taking place as anticipated, hindered by economic and political challenges.

For the ongoing fiscal year, the government had set aside Rs72.597 billion from 4G/5G licenses in the non-tax revenue category, compared to Rs50 billion allocated the previous year, which was later increased to Rs74 billion.

Responding to queries from Business Recorder, the Pakistan Telecommunication Authority (PTA) explained that fees from cellular mobile operators for license renewals are collected in installments as per the license terms.

Up to now, PTA has received Rs30.94 billion out of the budgeted Rs40.90 billion for the financial year 2023-24. However, the Authority has not yet clarified the remaining Rs32 billion specified in the budget documents.

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