Finance Minister Ishaq Dar was briefed by a delegation of Etisalat, an Emirati international telecommunications services provider, about its ongoing operations in Pakistan.
The group met with the finance minister at the Pakistani Embassy in Abu Dhabi and briefed him on the company’s future business ambitions in Pakistan, according to a brief statement published by the Ministry of Finance.
A delegation of Etisalat called on Federal Finance Minister Senator Mohammad Ishaq Dar today at the Embassy of Pakistan, Abu Dhabi. The delegation apprised the Finance Minister about the ongoing Etisalat operations in Pakistan and their future business plans. pic.twitter.com/n456ALEMTc
— Ministry of Finance (@FinMinistryPak) November 10, 2022
It is crucial to note that Pakistan has been attempting to resolve the PTCL-Etisalat transaction for several decades. Since 1999, the business has retained $800 million of the $2.6 billion auction proceeds for majority interests in PTCL.
Etisalat has made upfront payments totaling $1.4 billion in a few instalments, but halted the remainder of the payment based on the non-transfer of all PTCL properties.
In an effort to recuperate the unpaid sale revenues of PTCL, the federal cabinet approved the appointment of Prime Minister’s Adviser Ahad Khan Cheema as a Land Utilization Expert on the PTCL Board last month.