Government Generates 14.694 Billion in a Single Day through DTH Auction

Government Generates 14.694 Billion in a Single Day through DTH Auction . Pakistan’s first-ever auction of Direct-to-Home licenses took place on Wednesday. The bidding process continued till late in the night. The three winnes at the end of the day were:

• Mag Entertainment
• Shahzad Sky
• Startimes Communication

The maximum bid verified till now was Rs. 4.91 billion, offered by M/s Shahzad Sky Pvt Ltd Islamabad, followed by a Rs. 4.9 billion bid from M/s Mag Entertainment Pvt Ltd Lahore and Rs.4.898 billion bid from M/s Startimes Communications Pakistan Pvt Ltd Islamabad.

Government Generates 14.694 Billion in a Single Day through DTH Auction

All three lincenses will be paying the lowest of the three i.e. Rs. 4.898 billion. The Total Amount Becomes 14.694 Billion. Moreover, all three licenses will be paying withholding tax @10% so the total amount becomes Rs. 16.16 Billion.

Eleven companies participated in the auction for three DTH licenses. The base price for the license was set at Rs. 200 million. All contributing companies took part devotedly.

Pakistan Electronic Media Regulatory Authority (PEMRA) had started accepting bids for 12 shortlisted companies as Supreme Court (SC) gave green signal on conditional basis to it for auction. The auction took place in the Marriot Hotel, Islamabad.

Also Read: DTH Biding Starts as Supreme Court Gives Green Signal on Conditional Basis

While talking on the occasion, Pakistan Electronic Media Regulatory Authority (PEMRA) Chairman Absar Alam called DTH technology a game changer for the country’s media industry and revealed that his organization has worked hard and with devotion towards this end.

He stated that the bidding process has been made apparent in every way and added that DTH services, once propelled, will generate more employment openings in the country.

“Pakistan’s media industry will progress and the national economy will flourish.”

He said.

Earlier the Supreme Court had issued orders to the PEMRA to hold the auction for a while. It is also worth mentioning that the outcome of bidding will also be conditional with High Court’s detailed order.

Also Read: DTH Auction Updates: PEMRA shortlists 12 Companies for DTH Licenses