ISLAMABAD: The Universal Service Fund (USF) Policy Committee, on Tuesday, approved the release of Rs4.370 billion to the USF company for the fourth quarter of 2022-23.

Federal Minister for IT and Telecommunication Syed Aminul Haque chaired the USF Policy Committee meeting held at the committee room of the Ministry of IT on Tuesday.

IT Secretary Navid Ahmed Shaikh was also present at the meeting.

USF CEO Haaris Mahmood Chaudhary apprised the committee about the ongoing projects, adding that funds are available for the payment in phases for these projects in the current year, while further Rs33 billion will be required in the year 2024 for overall payments by the company.

He said that on the direction of the Federal Minister for IT, 65 projects worth over Rs70 billion were launched during the last four years for providing broadband services to masses in far-flung areas of the country.

However, Ignite Policy Committee meeting was held under the Federal Minister for IT.

The meeting gave approval for releasing Rs199 million to Ignite for the fourth quarter of the current financial year.

Earlier, CEO Ignite Asim Shahryar Husain briefed the chair about the ongoing projects.

Haque also presided over the 56th Board Director (BoD) meeting of the Pakistan Software Export Board (PSEB). The meeting was apprised about the appointment of new CEO PSEB Syed Ali Raza.

The meeting was attended by Member IT Syed Junaid Imam, Chairman P@SHA Zohaib Khan, and others.

Copyright Business Recorder, 2023