‘Faster, cheaper, better’: 480MHz sold for $507m as 5G spectrum auction concludes

The government completed its 5G spectrum auction in Islamabad on Tuesday, with 480 megahertz sold for $507 million at the end of the third round of bidding.

The three bidders — Zong, Jazz and Ufone — competed heavily at 2600 megahertz for the key frequency band needed for the 5G service. Zong acquired 110MHz, Ufone 180MHz and Jazz 190MHz during the auction.

Pakistan 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.

The bidding process was launched in the presence of Finance Minister Muhammad Aurangzeb, Information Minister Attaullah Tarrar, former IT minister Syed Aminul Haque, and the chairperson of the National Assembly Standing Committee on IT and Telecom, along with some members of the committee.

After the first round of bidding, the compiled results were opened. The PTA had offered 190MHz in lots of 10MHz each, while the bidders demanded 30 lots. Eleven extra lots totalling 110MHz were made available for auction. The PTA has decided to increase the bid price of the 2600MHz band by five per cent of its base price.

For the other 5G band — 3500MHz — 28 lots of 10MHz were offered but the telecom companies placed bids for only 20 lots. A break preceded both the second and the third round of bidding.

Addressing the event, Aurangzeb thanked all the members of the spectrum committee and gave credit to the IT minister for ensuring the continuity of the IT policy resulting in the spectrum auction despite changing administrations.

Regarding how the auction was going to be “an enabler”, he said, “I’ve always said digital is not an end in itself; it’s a means to an end. Faster, cheaper, better — it’s as simple as that.”

He added, “When we talk about jobs, when we talk about........

© Dawn Business