Islamabad : Pakistan on Tuesday completed the process for 5G spectrum auction in Islamabad on Tuesday. Three parties –Zong Pakistan , Jazz Pakistan and Ufone remained highest bidder for 480 megahertz spectrum for $ 507 million. Zong Pakistan won the auction for 110 megahertz , Ufone for 180 megahertz and 190 megahertz.
Pakistan had offered 700 MHz for $32.5 million, 1800 MHz for $16.8m, 2100 MHz for $70m, 2300 MHz for $10m, 2600 MHz for $12.50m and 3500 MHz for $6.5m per lot
Finance minister , Muhammad Aurangzeb, in his comments on the successful of auction of spectrum for 5G said it will help enhance speed of internet in Pakistan, besides bringing the cost of the service down in the new era of IT.
Information minister , Atta Tarar , said good price offered by the bidders shows confidence of the investors in the government policies.
IT minister , Shinza Fatima said the open bidding process suggests how much priority the government accords to the transparency and healthy competition in any bidding. She said 5G will bring the revolution in Pakistan’s information sector.
A team of the federal minister comparing Finance minister , Muhammad Aurangzeb , Information minister , Atta Tarar , minister for Science and Technology , Ameen -ul- Haq and national assembly standing committee chairman .
Pakistan Telecommunications Authority (PTA) chairman , General ( Retd )
and IT minister , Shinza Fatima , witnessed the auction.