Govt receives $224.6 million licence renewal fee from two cellular companies

ISLAMABAD: Government of Pakistan has received US$ 224.6 million from two cellular companies respectively as their licence renewal fee, says a press statement issued by the Ministry of Finance.

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.

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.

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