According to PTCL, the business operation license of Pakistan Communication Company Limited (PTCL) expired on December 31, 2020. Now, PTCL is in conversation with the PTA (regulator) for the renewal for renewal of license.
PTCL informed to Pakistan Stock Exchange (PSX), that the integrated license was issued for 25 years. License to PTCL was effective from January 01, 1996 and it was valid under December 31, 2020. Which now needs to be renewed from 1st January, 2021 as per the the conditions of the Pakistan Telecommunication authority (PTA).
PTCL already submitted the renewal application to process official request to Pakistan Telecommunication Authority (PTA) on June 29, 2018 (30 months prior to the expiry / renewal date of the license).
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The PTA acknowledged through its letter dated October 01, 2018 that PTCL’s license will be renewed in accordance with the policy of the government at the time of renewal.
“Therefore, in the interest of business continuity and operations, PTCL has sought permanent injunction on December 18, 2020. From the Sindh High Court at Karachi by way of filing Suit No. 2081/2020. Wherein PTA is restrained from taking any adverse action against the PTCL on expiry of license on December 31, 2020. And not to interfere in the business of PTCL and the provision of services on the basis of license.”
PTCL
According to PTCL they are in discussions with the PTA. PTA and the federal government is in process to approve according to the terms and conditions of the renewed license. “PTCL said that they are confident that its license will be renewed as soon as possible.
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