- Sources say Jazz is expected to deposit the required amount within a day or so
Two major telecom operators — Ufone and Zong — have deposited the mandatory pre-bid earnest money of $15 million each with the Pakistan Telecommunication Authority (PTA) for participation in the 5G spectrum auction scheduled for March 10, informed sources told Business Recorder.
The deposits, aggregating $30 million, come ahead of the February 27 deadline for submission of earnest money. With three days remaining, industry sources said Jazz is expected to deposit the required amount within a day or so, as it is unlikely to miss the country’s most anticipated spectrum sale.
Under the PTA’s Information Memorandum, each prospective bidder is required to submit $15 million as earnest money to qualify for the auction process. The amount is adjustable against the final licence fee for successful bidders.
READ MORE: Will 5G actually improve internet access for ordinary Pakistanis?
According to the auction framework, the government is eyeing proceeds of over $634 million from the sale, depending on the level of competition and final price discovery during the bidding process.
The regulator has made it clear that the auction would be deemed successful if at least 50% of the total 597 MHz spectrum on offer is sold. This translates into approximately 300 MHz.
Officials indicated that if three operators participate in the bidding, around 300 MHz of spectrum would effectively be sold automatically, meeting the minimum success threshold.
PTA officials believe that participation of at least three cellular mobile operators (CMOs) will ensure competitive bidding and strengthen investor confidence in Pakistan’s digital roadmap.
The March 10 auction is being closely watched by policymakers, investors, and industry stakeholders, as it is expected to lay the foundation for next-generation mobile services, including ultra-high-speed broadband, low-latency applications, and enterprise solutions.
With Ufone and Zong already in the race and Jazz expected to follow shortly, the competitive contours of Pakistan’s 5G rollout are fast taking shape — setting the stage for what could be a defining moment for the country’s telecom and digital economy landscape.
Reference Link:- https://www.brecorder.com/news/40408734