Chief Executive Officers (CEOs) of the Telecommunication Companies, Mobilink, Zong, Telenor and Ufone on Wednesday called on Finance Minister Ishaq Dar to discuss issues related to taxes on account of Auction of 3G/4G Spectrum at the Finance Ministry.
The minister congratulated the winners of the auction and said that the government would provide all necessary guidance and assistance to reap the benefits of new technology just rolled out in the country. He said “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.”
Dar said that it was mandatory that the telecos have to pay 10 percent advance tax under Section 236A of the Income Tax Ordinance 2001 on 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, “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 would work for the country’s telecommunication development. He emphasised 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.