13 May 2022

Pakistan Telecommunication Authority (PTA) has renewed the licence of mobile network operator Jazz, which committed the highest-ever investment in the country’s telecom sector.

According to a statement, Pakistan Mobile Communication Limited (PMCL) –known as Jazz – got its licence renewed for 15 years with a fee of US$486.2m, the watchdog said.

Out of the total fee, 50% (US$243.1 or Rs44.54bn) has been deposited by the telecom operator, while the remaining amount will be paid in five equal annual instalments along with the applicable markup.

However, the renewed licence has enhanced terms and conditions for coverage and quality of service, the statement said.

As per the policy directive, the renewal of Jazz’s licence is expected to generate in the region of US$486.2m. In addition, the payment terms would be 100% upfront or 50% upfront with remaining 50% in five equal annual instalments on London Interbank Offered Rate (Libor) plus 3%.