Jazz seeks court’s interpretation on its license renewal terms

TechnologyJazz seeks court’s interpretation on its license renewal terms

ISLAMABAD, Pakistan: In view of imminent renewal of its license, Jazz (the VEON Operating Company in Pakistan) has approached the Islamabad High Court (IHC) to decide on the terms of license renewal in an equitable, fair and transparent way.

This measure is taken to provide uninterrupted telecom, broadband, and mobile financial services to its 58 million customers, and to ensure continuity of investments in digital infrastructure sector. Jazz is working within the country’s telecom policy framework to protect the interests of foreign investors.

Jazz seeks to have the license renewed as per the terms of its license and the telecom policy of 2015. The license was issued at PKR 16.8 billion in 2004 (USD 291 million equivalent) and is now worth PKR 41.4 billion (USD 291 million). While this is almost 250% of the original value, the company has nonetheless, shown its willingness to pay this amount.

The telecom industry in Pakistan has amongst the world’s lowest call rates and Jazz is one of the highest taxpayers in the country. The digital backbone for Pakistan is dependent on the telecom industry’s ability to expand its services, which requires a predictable investment environment. Jazz remains firm in its commitment to lead the digital revolution in Pakistan.

Mati
Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

Must read

Recent News

Moscow says it won’t allow US to silence UNSC on Israeli violence against Palestinians Monitoring Desk: Russian envoy in United Nations Vasily Nebenzya said that the UN Security Council should bring peace, stability and prosperity to the Middle East and Russia would not allow United States to silence UNSC over the issue of Gaza crisis. According to TASS news Agency, Nebenzya said that Moscow will continue to call for an end to violence against Palestinians and will not allow the US to muzzle the UN Security Council as Washington seeks to support Israel's operation in Gaza. "We will continue to stand firmly for ending violence against the Palestinians. Without a shadow of a doubt, we will continue to expose the abuses and sanctimony with which the US is handling the situation. We will not allow the Americans to gag the entire council with their hands in an effort to encourage further continuation of Israel's ruthless operation," he said in a speech at the Security Council.

Moscow won’t allow the US to silence the UNSC on Israeli violence against Palestinians

0
Monitoring Desk: Russian envoy to the United Nations Vasily Nebenzya said that the UN Security Council should bring peace, stability, and prosperity to the...

From Valdai to Margalla Dialogue —- All roads to Civilisations go through Islamabad

0
By Shazia Anwer CheemaThe emergent realities of global security are fundamentally transforming the frame of references and trajectorial approaches toward them. New security architecture...

12 more men in uniform embraced martyrdom for the motherland in Pakistan

0
Monitoring Desk: 12 more men in uniform embraced martyrdom for the motherland in Pakistan, said Inter Service Public Relations (ISPR) of the Pakistan Army.On...
Dr. Attia Anwar

Lifelong learning

0
By Dr. Attia AnwarAs we age, our minds and mental health become more important. We should try to maintain and improve them. Education is...
12th Defense Expo 'Ideas 2024' 'Weapons for Peace' a major step in defense diplomacy

12th Defense Expo ‘Ideas 2024’ ‘Weapons for Peace’ a major step in defense diplomacy

0
By Asghar Ali MubarakIdeas 2024, the global exhibition of defense equipment, will begin today at the Karachi Expo Center on November 19, in which...
Advertisement