ISLAMABAD- Three licenses of 3G and two licenses of 4G spectrum would be auctioned in the middle of April this year.

Finance Minister Ishaq Dar said this while unfolding the salient features of new policy at a news conference in Islamabad today.

Ishaq Dar said the bid reserved price for 3G spectrum license would be 295 million dollars each and 210 million dollars each for the 4G license. He said the reserved price for new entrants would be 291 million dollars.

As per policy‚ the successful bidder will have to pay 50 percent price forthwith while the rest would be payable in five years with an interest rate of 3 percent above LIBOR(London Inter Bank Offered Rate).

Replying to a question‚ the Finance Minister said the licenses would be issued for a period of 15 years.