ISLAMABAD, May 5: A UAE based firm on Wednesday deposited 25 per cent ($72.75 million) of the $291 million bid in the account of Pakistan Telecommunication Authority (PTA) for the grant of cellular mobile phone licence.

A PTA announcement said the company, Warid Telecom, would pay the remaining amount within 40 days. Cellular mobile licences were granted to two companies, Norwegian Telenor Mobile Communications and Warid Telecom at the April 14 auction. The Norwegian firm has already deposited 25 per cent of the bid.

Representatives of the company held a meeting with PTA Chairman Shahzada Alam Malik and members of the authority to brief them on their business plan. They informed the PTA that their company had established its offices at Saudi Pak Tower.

Mr Malik said the PTA would provide a level-playing field and extend full cooperation to the companies for the smooth functioning of their activities. It is expected that the licences to the companies would be issued by the end of this month.