Chief Executive Officers of Telecommunication companies call on Finance Minister

Islamabad, May 14, 2014 (PPI-OT): Chief Executive Officers (CEOs) of the Telecommunication Companies namely Mobilink, Zong, Telenor and Ufone called on the Finance Minister, Senator Ishaq Dar to discuss issues related to taxes on account of Auction of 3G/4G Spectrum at the Finance Ministry today.

The Finance Minister congratulated the winners of the Spectrum Auction and said that the government will provide all necessary guidance and assistance to reap the benefits of new technology just rolled out in the country.

He said that we are satisfied that the Auction process was completed in the best transparent manner duly recognized globally and the country is now moving forward for the development of the necessary infrastructure which will result in creation of 900,000 employment opportunities in the next few years.

The Finance Minister complemented the CEOs, on his own behalf and on behalf of the Government of Pakistan, of the successful winners of Auction of 3G/4G Spectrum. The Finance Minister said that it is mandatory that the telecos have to pay 10% advance tax under Section 236A of the Income Tax Ordinance 2001on the auction sale price of the Spectrum. The Teleco Companies expressed their agreement to follow the law and make payments due under the law.

He said that we want to facilitate international investors and provide them an environment which is conducive to economic activity in the country. He hoped that the telecos will work for telecommunication development in the country. He emphasized on developing areas like E-health, E-commerce and E-education and many more other fields.

The CEOs expressed their appreciation for transparency and fairness during the whole process and said that it will contribute technological resources to Pakistan’s socio-economic sectors. They observed that Spectrum Auction will further add to the renewed confidence of the international investors in Pakistan’s economic policies.

They resolved to introduce new technology, local based telecom industry and to provide maximum service benefits to the consumers as a result of Spectrum Auction. Finance Secretary, Chairman PTA, Chairman FBR and senior officials of the Finance Ministry were also present in the meeting.

For more information, contact:
Director General (Media)
Naveed Iqbal
Ministry of Finance
Government of Pakistan
Room # 514, Block-’Q’, Finance Division,
Pak. Sectt. Islamabad
Phone: 92 51 9206382, 9211707
E-mail: naveed.iqbal377@gmail.com

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