The government has set a minimum price of
The government, according to Dar, is willing to entertain new entrants so long as they acquire a GSM licence worth
According to the finance minister, the accumulative minimum value of six licences is
Highlighting details of auction, Dar said, the government would be looking for full payment in advance, or a 50% payment with the rest to be paid in five equal installments over five years. But, unlike the past, the bidder will have to pay an interest rate equal to London Interbank Offered Rate with an additional 3%, he added.
The telecom companies had urged the government to set realistic minimum bid price and also set easy payment terms.
While admitting that precious time had been lost in auctioning of the future generation spectrum licenses, Dar said countries like
Expressing hope, the finance minister said the provision of new services will help create more jobs in the country.
Dar said the successful culmination of the auction process will ensure rapid availability of high-end and new generation of information and communication technologies in the country that would promote connectivity.
He assured that the government will not compromise on transparency during the process. Dar announced that Information Memorandum will be made public on Monday and the auction process will be completed by
Responding to a question, the finance minister said the only way to prevent collusion of the existing five mobile cellular service providers was the entry of at least one new player in the market. He said
Meanwhile, the Minister of State for Information
The finance minister said the reserve price and other terms of the auction have been devised by
The 3G licences will be offered for 10MHz in 2100 MHz band while the 4G will be offered for 10 MHz in1800 MHz, said Dar. He said all the licences have been offered for a period of 15 years with a provision of renewal of the term. However, the telecom companies have demanded a 20-year term.
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