ISLAMABAD
The Federal Cabinet has given its nod to China’s one-billion-yuan loan for Pakistan Space Centre project. According to sources, Federal Cabinet extended its approval for finalizing the loan agreement through a circulation summary.
Pakistan has requested China for a concessional loan for the space project. The annual mark-up on the loan will be two percent while one-time management fee will be 0.25 percent.
The sources further said that there would also be annual 0.2 percent commitment charges on this loan. Pakistan reportedly plans to establish an indigenous facility for development of satellites in accordance with international space standards under annual development plan for the next year.
The facility, Pakistan Space Centre (PSC), will have capability to carry out manufacturing, testing, system level assembly, integration, launch and operations of various types of satellites.
As per Information and Communication Technology Annual Plan 2018-19, the Pakistan Multi-Mission Satellite will cater to demand of Direct-To-Home, High-Throughput Services (HTS)/Broadband Internet and Strategic SATCOM.
