By Mehreen Zahra-Malik ISLAMABAD (Reuters) – A dismal response in this week’s auction for next-generation cellphone spectrum licenses means cash-strapped Pakistan will struggle to fund its budget this year, finance and IT ministry officials and telecom industry executives told Reuters. Pakistan is set to hold long-awaited auctions for 3G and 4G network licenses on April 23, a step the government projects will raise $2 billion to boost foreign reserves. But officials said there has been scant interest in Monday’s bidding process and estimate Pakistan will raise no more than $850 million. …
Comments are closed.
