This invention relates to a centralized packet scheduler for a wireless communications network such as HSDPA, 1×EV-DO Revisions 0, A and B, WiMAX, infrastructure-mode WiFi and any other type of network where centralized packet scheduling is applicable. The invention provides a utility-opportunity cost packet scheduling scheme for high-speed access that simultaneously achieves efficiency, fairness, user satisfaction, and flexibility. The scheme employs a flexible utility function that incorporates the channel quality conditions of the users as well as a fairness measure. The utility function maximizes user satisfaction as perceived by the service provider while ensuring that users with favourable instantaneous channel quality conditions do not monopolize the radio resources. In addition, the scheme uses an opportunity cost function to allow the service provider to optimize fairness in the context of network throughput and hence, to control the system capacity. The scheme combines the requirements of users (e.g., throughput, delay, fairness, etc.) with the requirements of the service provider (e.g., revenue) in making scheduling decisions.