PTCL licence expired on December 31 last year

LAHORE: The Pakistan Telecommunication Company Limited (PTCL) licence has expired on December 31, 2020, it was learnt on Friday.
The PTCL has started discussions with the Pakistan Telecommunication Authority (PTA) for the renewal of its licence.
According to a letter sent to Pakistan Stock Exchange (PSX), the PTCL wrote that the integrated licence, which was issued for 25 years with effect from January 1, 1996, has expired on December 31, 2020 and its renewal is required from January 1 this year.
“Therefore, in the interest of business continuity and operations, the PTCL has sought permanent injunction from the Sindh High Court (SHC) by filing Suit No 2081-2020, wherein the PTA is restrained from taking any adverse action on expiry of license, and interfering in the business of the PTCL and the provision of services on the basis of the license,” the PTCL mentioned in the letter.
It was also mentioned in the letter that the PTCL is in discussions with the PTA and the federal government to finalise the terms and conditions of the renewed license. “The PTCL is confident that its license will be renewed at the earliest,” the PTCL wrote.
As per terms of the licence, the PTCL had initiated the renewal process by formally requesting the PTA on June 29, 2018 [30 months prior to the expiry of the license].
However on October 1, 2018, the PTA responded in affirmative through a letter and said that the PTCL’s licence will be renewed in accordance with the government’s policy prevalent at the time of renewal.

Must Read