Karachi – The Pakistan Telecommunication Authority (PTA) has awarded a 4G spectrum license to Norwegian telecom giant Telenor for $395m in a license awarding ceremony which was held at Ministry of Information and technology as Pakistan seeks to capitalize on booming mobile internet market.
IT minister Mrs’ Anusha Rehman handed over the 850 MHz license to CEO Telenor Pakistan Mr. Mr. Michal Foley CEO. This will enable Telenor Pakistan to launch its 4G services in Pakistan and in this way it would become the 3rd 4G operator in Pakistan.
In 2014 Pakistan auctioned its first 4G license to Zong for $210 million, along with 3G licenses to Zong, Mobilinh and Warid. Pakistan raised a total sum of $1.2 billion.
As a result of this smart phone imports as soared by record 123 percent in the first quarter of 2015, highest in the developing countries.
Minister for IT & Telecom Mrs. Anusha Rahman congratulated Telenor Pakistan, and acknowledged the role played by Telenor in bringing revolution in telecom sector of Pakistan. Telenor Pakistan has invested billions in the country since it got its license in 2004.
Michael Foley, CEO, Telenor Pakistan expressed his gratitude to government of Pakistan and said’ “Telenor is committed to supporting Pakistan’s efforts to become a digitally developed nation. Driven by our vision of empowering societies, our success to date has been built on a simple realization: mobile communication, financial services and internet are not luxury goods for the few; they are for everyone.” He appreciated the IT Minister for her role in expanding the digital ecosystem in the country.
Telenor has already submitted 50 percent of price i.e $197.5 million remaining 50 percent will be paid in 5 equal annual installments.