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Jazz seeks court’s interpretation on its license renewal terms

Jazz seeks to have the license renewed as per the terms of its license and the telecom policy of 2015.

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In view of the imminent renewal of its license, Jazz (the VEON Operating Company in Pakistan) has approached the Islamabad High Court to decide on the terms of license renewal in an equitable, fair and transparent way. This measure is taken to provide uninterrupted telecom, broadband, and mobile financial services to its 58 million customers, and to ensure continuity of investments in the digital infrastructure sector. Jazz is working within the country’s telecom policy framework to protect the interests of foreign investors.

Jazz seeks to have the license renewed as per the terms of its license and the telecom policy of 2015. The license was issued at PKR 16.8 billion in 2004 (USD 291 million equivalent) and is now worth PKR 41.4 billion (USD 291 million). While this is almost 250% of the original value, the company has nonetheless, shown its willingness to pay this amount.

The telecom industry in Pakistan has amongst the world’s lowest call rates and Jazz is one of the highest taxpayers in the country. The digital backbone for Pakistan is dependent on the telecom industry’s ability to expand its services, which requires a predictable investment environment. Jazz remains firm in its commitment to lead the digital revolution in Pakistan.

the authorSaman Siddiqui
Saman Siddiqui, A freelance journalist with a Master’s Degree in Mass Communication and MS in Peace and Conflict Studies. Associated with the media industry since 2006. Experience in various capacities including Program Host, Researcher, News Producer, Documentary Making, Voice Over, Content Writing Copy Editing, and Blogging, and currently associated with OyeYeah since 2018, working as an Editor.