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Tuesday, 1 May 2012

3G Pakistan goes from Low Signal to No Signal: ProPakistanis

The much expected 3G Auction back in Jan-12 got to Low Signal profile in March when the auctions we officially postponed to a later date. Now officials from telecom operators have confirmed Reuters of 3G Auction going in to No Signal profile as the PTA has delayed it indefinitely.
Potential bidders were due to submit expcoressions of interest from January 21, but they have yet not been invited to do so, Walid Irshaid, chief executive of Pakistan Telecommunication Co (PTCL), told Reuters.
“All the dates announced earlier have been put on hold, what the new date is we don’t know,” said Irshaid. “The first step was not even taken yet. No official notification has been received by us or any other operator.”
A spokesman for Telenor said the government had postponed the auction until indefinitely until it hires an international consultant to supervise the process.
The Pakistan Telecommunication Authority, which is running the auction, was not immediately available for comment.
The government, which is still owed $800 million by Etisalat as part of the UAE firm’s $2.6 billion acquisition of a 26 percent stake in PTCL in 2006, expects to raise at least $630 million from the 3G auction, having set a base price of $210 million for each licence.
That would have raised much-needed money for Pakistan’s government, which battling doubled-digit inflation and a sharply widening trade deficit, while foreign investment into the country has also plunged.
Excerpts from Reuters
With this the speculations for 3G Auctions in 2012 comes to end. Let’s hope for the best in coming future.
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