STAFF REPORT IBD: The second round of International Clearing House (ICH) Board meeting has recently been held at the PTCL headquarters wherein the ICH Committee apprised the participants regarding the performance of House since its inception.

PTCL Senior Executive Vice President (SEVP) Corporate Development, Sikandar Naqi welcomed the participants of the meeting. The Board meeting board deliberated on agenda items including the ICH business for the last 21 days and approval was accorded regarding the matters pertaining to ICH business. A presentation was also made to Secretary Ministry of Information Technology Amir Tariq Zaman.

The committing was informed that the ICH has earned valuable foreign exchange during the first 21 days of ICH business. It has also generated huge funds to be allocated to Universal Service Fund (USF). The subsequent increase in revenue will lead to an increase in Income Tax.

All the participants appreciated the increase in foreign exchange inflow and stabilization of Government of Pakistan approved settlement rate for international traffic terminating in Pakistan. The ICH board also accorded approvalsregarding appointment of independent auditors and other matters pertaining to ICH business.

Later, a question-answer session was also held with the Secretary MoIT to deliberate on the opportunities and challenges with regards to the ICH.

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