SPTV signs $10 million pact with three foreign companies
ISLAMABAD- Shaheen Pay TV (SPTV) has signed a $ 10 million agreement with Pace Enabling Digital, a UK company, Axcera, a USA based company, and Conax CAS Pay Cards Providers, a Norwegian company, here on May 25, 2003 evening.
SPTV would make an investment of $ 100 million within 12 to 18 months in Pakistan, said Ali Mahmood, partner of SPTV, after signing the contract.
SPTV would launch a TV network with 40 channels legal digital transmission and broadband internet provision to its customers. SPTV also has a local licence from government for its own channel, he added.
Finance Minster Shaukat Aziz, presiding over the signing ceremony, said that due to government policies a few private channels have started operating in Pakistan and quality of information provision has largely gone up. Shaheen Pay TV would become a listed company within the next few months.
James O’Brien, from Axcera, said that the technology, which SPTV is introducing, is the state-of-the-art technology and is in a few countries in the world now which have this technology of wireless TV.
Its internet speed would be 301-00 times better than current cable internet providers. He said that Pakistan is a strategic and focused market and working here is a very good experience.
A customer of the SPTV has to get one component of Rs 8000, which includes security of Rs 2000 subscription with one year free subscription, which the cable operators charge for almost Rs 300 or Rs 200 per month. It would be providing licensed products and channels to the customers with very good service quality.
The Finance Minister said Mr .Shaukat Aziz said the government has opened up the media to private sector and it has gone through a massive transformation.
There are many sectors, which are benefiting growth due to reforms, including petroleum, financial and stock market. “The government is creating right type of enabling environment for the private sector and was confident that entrepreneurs are second to none.
According to the agreement, SPTV would import digital equipment worth ten million dollars.
The equipment would enable the TV channel to provide 40 channels and fastest internet services.
Source: Business Recorder