New licenses issued by Pakistan Electronic Media Regulatory Authority (PEMRA) would inject investment of approximately $2-$3 billion, said Economic Survey 2019-2020 released on Thursday.
The growth of the media industry has multiplied rapidly during the last decade, with a cumulative investment of approximately $4-$5 billion and providing employment to more than 300,000 people.
PEMRA has issued 254 licenses for FM Radio so far while the number was 240 till March 2019. Similarly, PEMRA has issued 4,062 Cable TV licenses while the number was 4,007 till March 2019.
Besides collecting advance tax at the time of issuance of licenses and their renewal, PEMRA has deposited a total of Rs1,053,226,106 in the Federal Consolidated Fund (FCF).
It has also released Rs160 billion from July-December, against which the PTV is importing electronic and IT equipment to upgrade its channels, including PTV Home, PTV News, and PTV Sports from standard to high-definition technology. The equipment is expected to be imported by the last quarter of FY2020.
The Pakistan Broadcasting Corporation (PBC) is one of the most important and effective electronic media for the projection of government policies and aspirations of the people of Pakistan, both at home and abroad. It has also been countering adverse foreign propaganda and negative perceptions.
