PTCL operating without a permit as licence expires

PTCL is currently operating without a licence, the Pakistan Stock Exchange has been informed.

The company obtained a 25-year licence in 1996 which expired on January 1, 2021.

As the licence has not been renewed, the company is now operating without a license.

The Pakistan Telecom Limited has issued a notice to the Pakistan Stock Exchange informing it of this development.

The PTCL spokesperson says the PTA was sent a request to extend the licence in 2018 but the authority replied that when the licence expires a decision will be made according to the government policy at the time.

Sources say there is a dispute between the government and PTCL over the payment of $800 million, which is why the licence has not been renewed.

from SAMAA https://ift.tt/385Nj0U