Ufone wins USD 279 million bid in Spectrum Auction for NGMS
ISLAMABAD, Sep 11. (Gwadar Pro)- Ufone of Pakistan Telecommunications Mobile Limited (PTML) has won an auction for Next Generation Mobile Services (NGMS) in Pakistan 2021. The process will generate revenue of USD 279 million.
The opening of application and sealed bid offers from the prospective applicants was completed on September 9, 2021, according to Pakistan Telecommunication Authority (PTA).
The authority received a bid from Ufone and after scrutiny of the submitted bid, PTA declared “PTML as winner of the auction process”. This process will generate revenue of USD 279 million (excluding advance tax). The government will receive 50% upfront payment of PKR 23.44 Billion within 15 days; out of which 20% of the said amount i.e. PKR 9.38 Billion has already been received on September 9, 2021. The remaining 50% will be paid in five equal annual installments.
Total Spectrum won by Ufone is 9 MHz in 1800 MHz band, which is 70.3% of the total offered spectrum in the said band during the current Auction. This addition will increase Ufone spectrum holdings from 6 MHz to 15 MHz in the 1800 MHz band. This will help Ufone provide enhanced quality and increase coverage footprint for Voice and Data services.
PTA completed the auction process with assistance of internationally reputed consultant Frontier Economics who was onboard since January 2021, and conducted thorough consultation with cellular industry and other stakeholders.
A license will be issued to Ufone which includes enhanced Network rollout obligations and Quality of Service standards to ensure consumers' interest.