Mobilink to take part in 3G auction
Thursday, January 26th, 2012 6:00:27 by Wajahat Javed
Mobilink to take part in 3G auction
Wednesday, January 25, 2012: Mobilink, the largest telecom service provider in Pakistan, has decided to take part in the auction for third generation (3G) telecommunication services. As per the schedule, the auction for the 3G
would take place March 29, 2012 following the pre-bid conference on March 2. The Auction will be for the license of three spectrums of 3G for a period of 15 years.
The company developed the interest in the bidding for 3G technologies after analyzing the information memorandum of 3G spectrum. The president of Pakistan Mobile Communication Limited, Rashid Khan, confirmed the news.
Khan held a press conference during which he revealed, “(Mobilink) is evaluating the information memorandum of 3G spectrum and has decided to participate in the bidding. The president was, however, not clear about whether the company
would target one spectrum or two. As per laid out rules for auction, any bidder/company can bid for maximum two spectrums. The base price for each 3G license would be $210 million with bid earnest money of $31.5 million. The licence will be through multiple
rounds and open bidding method.
As per an estimate, the finance ministry will generate $833 million (Rs75 billion) through the auction of 3G licences.
Despite the country going through economic turmoil and companies being forced out of business due to energy crisis, the cellular companies in Pakistan are growing rapidly. The telecom sector in Pakistan registered its highest revenue
in 2011. The figures touched Rs363 billion mark in 2011, meaning an overall increase of 5.4% compared to the previous year.
The telecom sector is also playing its part in developing Pakistan. In 2011, the sector invested about $495.8 million. Steps such as these put at rest the claims that the market does not have appetite for more investment due to
the economic downturn.
Mobilink is one of the oldest and the strongest cellular company in Pakistan. The company shares in the total revenue of Telecom sector holds at about 33 %. Telenor and Ufone follows Mobilink and have 24.9% and 18.7% shares in
the market respectively.
Short URL: https://www.newspakistan.pk/?p=10537
Posted by Wajahat Javed
on Jan 26 2012. Filed under Business, Pakistan.
You can follow any responses to this entry through the RSS 2.0.
You can leave a response or trackback to this entry
we need this service,please launch 3g as soon a possible.