Jazz pays $106 million for license renewal

Jazz pays $106 million for license renewal

ISLAMABAD: Jazz, leading cellular mobile operator in Pakistan, has paid around $106 million as fee for license renewal, said an official statement issued Tuesday.

Pakistan Telecommunication Authority (PTA) has received deposit amounting to Rs24.24 billion (equivalent of US $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 Rs56.57 billion (equivalent to US $ 253.78 million).

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