ISLAMABAD: The government has received $449 million from two cellular companies as license renewal fees.
“The government of Pakistan has received payment amounting to $224.6 million and Rs 35.262 billion (equivalent of $224.6 million) from two cellular companies respectively as their license renewal fee,” says a press statement issued by the Ministry of Finance on Tuesday.
According to the statement, the license renewal fee of telecom companies collected by Pakistan Telecommunication Authority is a significant source of non-tax revenue for the federal government.
“The government received Rs 35.2 billion from Jazz and US$ 224.6 million from Telenor in partial settlement for their cellular license renewal,” Dr. Hafeez Shaikh, Advisor to the Prime Minister on Finance, said in a twitter message.
“Good news for the telecom industry and revenue collection of the federal government,” he added.
Due to stay orders given by the apex court, the collection of this renewal fee from two telecom companies which was budgeted in previous fiscal year had been delayed.
However, with the efforts of the Adviser to Prime Minister Dr Abdul Hafeez Shaikh, his team led by Secretary Finance and Pakistan Telecommunication Authority, due payment from the two companies has now been received by the government.