Warid Telecom deposits $72.75m

ISLAMABAD Warid Telecom, a company given a cellular service licence after another failed to deposit the licence fee, on Friday deposited $72.75 million with the Pakistan Telecommunication Authority (PTA), meeting the licence requirement to pay 25 percent of the total licence fee within 10 working days of the licence award.

On April 27, the PTA cancelled the licence of another cellular company Space Telecom after it failed to despite the required amount within 10 days. After the cancellation, the PTA offered the licence to Warid Telecom for $291 million. A PTA press statement said that Warid Telecom would pay the remaining licence fee within 40 working days. It added that the licences would be formally given to the two new cellular phone operators after they deposit the full fee. staff report

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