KARACHI: The business operation license of Pakistan Communication Company Limited (PTCL) expired on December 31, 2020 and the company is in discussions with the regulator for the renewal, a statement said on Friday.
According to a communication sent to Pakistan Stock Exchange (PSX), the PTCL said that the integrated license was issued for 25 years effective from January 01, 1996 and valid under December 31, 2020.
Therefore subsequent renewal was required effective form January 01, 2021.
As per terms of PTCL license, PTCL initiated the renewal process by formally requesting Pakistan Telecommunication Authority (PTA) on June 29, 2018 (30 months prior to the expiry / validity of the license).
The PTA responded in affirmative through its letter dated October 01, 2018 that PTCL’s license will be renewed in accordance with the government policy prevalent at the time of renewal.
“Therefore, in the interest of business continuity and operations, PTCL has sought permanent injunction on December 18, 2020 from the Sindh High Court at Karachi by way of filing Suit No. 2081/2020 wherein PTA is restrained from taking any adverse action against the PTCL on expiry of license on December 31, 2020 and not to interfere in the business of PTCL and the provision of services on the basis of license.”
The company said that it was in discussions with the PTA and the federal government to finalize the terms and conditions of the renewed license. “PTCL is confident its license will be renewed at the earliest,” it added.