Last week, on the floor of National Assembly, Minister for Privatization, Mr. Waqar Ahmed Khan was asked to present fact and figures on Etisalat’s pending payment, and the steps being taken by the Ministry to recover the said amount from the purchaser.
In response to which, Mr. Waqar Ahmed Khan told the house on September 23rd, 2010 that Pakistan Telecommunication Company Limited (PTCL) was privatized through sale of 26 percent shares for US$ 2,598,960,000 along with transfer of management control.
So far Privatization Commission has received US$ 1,799,653,313.31 and US$ 799,306,686.62 are outstanding as per detail below:
Minister stated that the Privatization Commission (PC) has followed up the case of transfer of properties with earnestness and dynamism. Secretary PC held various meetings with the Provincial Chief Secretaries/Senior Members, Boards of Revenue for resolving the issue.
The Minister for Privatization also wrote D.O. letters to the Chief Ministers of Punjab and Sindh to help facilitate the transfers. Owing to the efforts, both Sindh and Punjab agreed to charge fees at amenity rates (50% of the commercial rate).
On 18th December, 2009 Mr. Mohammad Omran, Chairman and Managing Director, Etisalat and his team called on the Prime Minister. After discussion with Chairman Etisalat, PM had decided:
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A Three Member Minister’s Committee consisting of Minister for Privatisation, Minister for Information & Broadcasting and Minister for Petroleum and Natural Resources will immediately take necessary steps to resolve the issues regarding land.
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This Committee will, if necessary, resolve the issue regarding valuation of the properties with the Provincial Chief Ministers and other Federal Government Agencies.
Subsequently, a meeting between the Privatization Commission and Etisalat was held in Dubai on 26th January, 2010 on the sidelines of FODP. The GoP reiterated its resolve for amicable resolution of issues.
Privatization Commission by using its best endeavors had arranged 64 properties in Punjab, 21 properties in Sindh to be mutated immediately in the name of PTCL upon settlement of modalities of payment to the provinces.
Regrettably Etisalat digressed from the understanding developed during the meeting.
Subsequently, a three Member Ministerial Committee constituted by the Prime Minister, consisting of Minister for Privatization, Minister for Information & Broadcasting and Minister for Petroleum & Natural Resources in its meeting held on 17th March, 2010, after deliberating on the various categories of land, directed that all relevant authorities of the Provinces and Federal Government should be engaged at the appropriate levels to get as many of the remaining properties as possible mutated in the name of PTCL at the earliest.
The Committee also directed that Etisalat be approached for delisting of 118 private properties from SPA and prepare plan of action for the remaining. The Committee further resolved to provide full support to the Privatization Commission in its efforts to settle the outstanding land issues. Therefore the matter was placed before the PC Board on 18th March, 2010 which endorsed the Committee’s recommendations.
Accordingly, the Privatization Commission wrote a letter on 30th March, 2010 to the President & CEO PTCL regarding using its best endeavors in facilitating PTCL and to work closely with PTCL for expeditious mutation of properties and also requested that PTCL / Etisalat may delete the 118 private properties from the list of outstanding properties to facilitate the resolution of the land issues and outstanding installments, however no favourable response was received.
PTCL responded on 1st April, 2010 that “PTCL does not have any authority or jurisdiction to amend / waive any of the obligations of the parties under the SPA. Therefore, the Commission may correspond directly with the Etisalat International in this regard.”
Government of Pakistan is using its best endeavors to get the outstanding properties mutated in the name of PTCL, in this regard 99 Punjab properties have been mutated as of 20th April, 2010 list of which was forwarded to Etisalat vide Privatisation Commission’s letter dated 23rd April, 2010 and was also requested to release the outstanding installments.
In response to PC’s letter, Etisalat on 26th April, 2010 appreciated the development and efforts made by GoP and reiterated their position in context of SPA.
Recently PC has again approached Etisalat for payment of outstanding instalments.
It is very unfortunate for Pakistan and for the PTCL if Government of Pakistan transfer the PTCL`s properties in the name of Etisala. GOD help Pakistan and PTCL.
These ARAB Buddoos are dacoits. They should be kicked out from Pakistan. With management transfer of only 26% share, they have cut throats of thousands of dedicated/devoted employess by terminating them. Mazhar, Nasrullah, and other DO NUMBER PTCL staff getting million of rupees as their salary in reward of terminating PTCL employess and making happy these non-competent ARAB Buddooss by providing beauties to them. These ARAB Buddooss are only interested in PTCL properties as they know only this real state business doing in their country in Dubai randikhana.
GoP should immediately cancell SPA and kick out these ARAB Buddooss from Pakistan.
Yes Jamshed you are right they are only interested in the Property of the PTCL and not interested to invest on Employees and the infrastructure of the PTCL.
I amm 100% agreed with the comments of Jamshed sb. Why GoP is not taking strict action for getting the outstanding payment? There is penalty on poors in Pakistan if they failed to deposit their utility bills(Electric, Gas etc..); Why no penalty has been imposed so far on these ARAB dacoits? Looting wealth of others is native profession of these ARAB Baddooss.
Have you heard in any country that a profit making organzation has been sold to these ARAB Baddooss in peanuts on installments, and even these Arab Fraudis are not ready to pay installments. Those Pakistani culprits who have received kick backs on this deal must be hanged including existing finance minister Hafeez Pasha who was minister of privatization at that time. I do’nt know what is his capability? These so called accounts people who knows 2+2=4 only have spoiled an Engineering department of PTCL
One thing more, the installments which Etisalat is paying to GoP is not its own money it is the money of Peoples of Pakistan because they earn from PTCL and from its earning they pay to GoP.
These Arabs have destroyed PTCL after almost destroying Pakistan. The country of Pakistan was very peaceful, with great institutions and progressing society. Then Arab Jehadis came in droves in 1970/80/90. They brought petro-dollars and exploited the simple and hospitable people of Pakistan. They very cleverly used the Tribal area’s poverty and lack of National laws to brain wash simple and non-educated population. Today the whole country is reaping the results and suffering and people are dying. The Arabs have moved into cities, businesses, mosques, mohallas like a cancer. The only way to save Pakistan and save PTCL and many other places is to show these Arabs back to their countries.
What has been done to PTCL, could never have been allowed in India. That nation and their Press are alive. In case of Pakistan, no one cares about the nation or the country. When it comes to PTCL fraud, including millions of dollars deposited in the bank account of then Minister of IT oWais Leghari, even the Supreme Court chasses to not act. The whole media has been silenced by Arab money. Look at the fact that only few people feel the pain and write in the ProPakistani. No one will come from havens to save Pakistan or PTCL, unless people and Press of Pakistan develop some “Ghaerat” and show that not by words but by real actions. Only Pakistanis will have to act to save their country and their companies – no one will come from heavens or from outside.
Sorry to say fellows, but actually we are the rotten eggs, we’ve allowed different countries to come invest and get profits, and even so take what ever they want …. not only the golden eggs but the golden eggs laying duck as well, and we are just sitting back and clapping. Don’t blame others as we are to blame because this whole chain of politicians are there because we have blindly selected and elected them to rule us and sell every asset of Pakistan at dirt cheap price in exchange of pennies as a commision in their pockets. Wake up, think and then act…………