Mobile phone company, Paktel, has signed an agreement with Pakistan Telecommunication Authority (PTA) to pay $291 million for the next 15 years GSM operations in Pakistan. The PTA permitted Paktel, which is the oldest cell phone company working in Pakistan, to launch its Extended Global System for Mobile (EGSM) network. Paktel's Chief Executive Officer Rocoplan Xavier and PTA Chairman Maj-Gen (retd) Shahzada Alam Malik signed the agreement. Paktel has now become the third company in the mobile phone sector to launch GSM network in Pakistan. Private Mobilink and state-owned Ufone are the other two companies, which are already providing GSM service to their subscribers while Warid Telecom (of UAE) and Telenor, the two other licence holders of GSM network, are expected to launch their services early next year. "It is a matter of great satisfaction for me to announce that long-standing issue of renewal of Paktel's licence has now been resolved amicably and the company has agreed to pay $291 million for the next 15 years GSM operation," PTA Chairman said. Malik said that the company has, however, been given some relaxation in terms of time period for making initial 50 per cent of the total amount as up-front fee in installment during the next three years. "The company has also been issued commencement certificate to launch its service," he said. --more 1437 Local Time 1137 GMT
