The National Assembly (NA) Standing Committee on IT and Telecom criticized PTCL’s administration over its inability to fulfil obligations made to the government.
The committee met under the chairmanship of MNA Muhammad Barjees Tahir, at the parliament house to probe into the privatization of PTCL. After hearing the officials of both the ministries, the committee declared that despite having outstanding financial portfolio, PTCL was privatized to an entity which did not fulfill contractual obligations despite the grant of concessions by the government.
The body expressed its reservations over the entire privatization process and said, “it seems as if the previous government wanted to get rid of PTCL which was a profit earning entity at the time of its privatization.”
The committee also expressed reservations over the exclusion of Telephone Industries of Pakistan from the privatization process, which was a subsidiary of PTCL.
Former secretaries of Privatization and IT Telecom argued that the privatization process was carried out in a transparent manner. They said that with deregulation of the telecom sector and huge number of employees, it was obvious that the entity would suffer losses and the government would have to provide subsidies for its sustenance.
Therefore, they added, the price which PTCL fetched from its sale was the best. The secretary of privatization informed the committee that Etisilat, the buyer of PTCL, had stopped paying installments till the transfer of PTCL properties in the name of the company.
He further informed that the provincial government and other departments had been asked to expedite the process of transfer of land to PTCL so that the payment from Etisilat could be actualized.
Via The News
I share and re-produce below an Article by Dr. Munir regarding PTCL privatizationwhich which is worh to read.
By Dr. Kamal A. Munir: https://propakistani.pk/2010/01/07/pre-post-privatization-ptcl-financial/