ISLAMABAD – The first-ever three DTH licences of the country have been auctioned for 14.694 billion rupees by PEMRA (Pakistan Electronic Media Regulatory Authority).
The auctioned started on Wednesday and after a strenuous 15 hours activity, three of the licenses were successfully auctioned by the authority.
Same was confirmed by PEMRA’s official Twitter handle.
PEMRA receives offers for Pakistan's 1st 3 DTH Licenses for Rs.4898 million each from M/s Mag Entertainment, M/s Shahzad Sky & M/s Startimes
— Report PEMRA (@reportpemra) November 24, 2016
The highest bid was raised by Mag Entertainment for Rs 4.91 billion, followed by M/s. Shahzad Sky for Rs 4.90 billion and M/s. Star time for Rs 4.89 billion respectively.
Licenses to the bid winners would be awarded after clearance from the interior ministry and law enforcement agencies.
The auction started after Supreme Court of Pakistan gave go ahead to PEMRA for the process although Lahore High Court had issued stay order against the auction.
Out of twelve short listed companies, eleven participated in the bidding process while Mastro Commissions failed to appear for the bidding.
Soon after the auction concluded, Chairman PEMRA Absar Alam expressed that the companies would have to pay the fees in instalments. He opined that it took 14 years for PEMRA to convert to DTH technology.
— Report PEMRA (@reportpemra) November 23, 2016
Meanwhile, Defence Minister Khawaja Asif felicitated PEMRA in his quintessential style.
All TV channels together give 8 crores to govt in a year. In a single day,900 crore so far committed for 3 DTH licenses.chuk k rakh PEMRA
— Khawaja M. Asif (@KhawajaMAsif) November 23, 2016