PPI Original Text (PPI-OT) – Govt. projects raising USD 850 mn from 3-G license auctions – Alfalah Securities Limited

Karachi, June 05, 2012 (PPI-OT): The government has projected raising USD 850 mn (PkR 79bn) from auctions of 3-G licenses in FY13 after failing to materialize the same amount from these auctions in the current financial year.

According to Alfalah Securities Limited, the government had projected to raise PkR 75 bn from 3-G license auctions in FY12 however, due to sharp devaluation of PkR against the US dollar; it now expects to raise an additional PkR 4 bn, taking the total transaction size to PkR 79 bn for FY13.