Etisalat Asked to Pay At least $500 million

Government of Pakistan has asked Etisalat to pay at least US 500 million dollars for buying 26 percent shares in PTCL in 2005 – to avoid a breach in the current year’s fiscal deficit target.

In return, the government has made a firm commitment to the Etisalat that it would transfer all the company’s properties to the new owners within 10 days, reported The Dawn. Citing a senior official at the ministry of finance told Dawn.

Because of a dispute with the Pakistan government over the legal transfer of land and property titles, the Etisalat of UAE has been holding back payment of about $800 million of the $2.6 billion PTCL’s privatisation proceeds to Pakistan for about three years now.

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  • yasir

    Will Etisalat pay ?????

    No no , not at all !!!!!!!!!!!!!!

    It will never pay .

    The greedy arabs have no courage to take out a single penny out of thier pocket to pay the mino price of such a precious asset of the people of pakistan.

    The price 800 millio9n is not the price of the assets of ptcl property.

    It is very very low price .

    PTCL has very kep locations in pakistan

    What the arabs are paying is very little as compared to what they are grabbing.

    This is very little price for the fix asset.

    It is going to be another bigest financial scandal in which the priceless , precious real estate is being handed over to the Abars agaisnt such a minor price.

    This deal must be stopped at every cost .

    Our country gold is being stollen away by the rulling hunta .

    Pakistan is being made insecure by handling over the key asset to the outsideers at such a cheaper rate.

    Why not the etisalat is being privbatised in thier own country, UAE .

    Why PTCL has been handed over top them at such a cheap rate and now the real estate ??

    A few people are getting advantage for thier personal interest while the whole country finanace , future and soverignity is being put at stake and made slave to these foreign invadors ???

    • Dear yasir, they have the guts to buy whole pakistan. you know you are consuming patrol given by saudi arabia government in zakat.

      your government beg saudi arabia to give them patrol so that you can run your car, motorcycle, rickshaw or whatever…

      you are just behaving like an emotional child :)
      dil khool ker bheeak mango yar be a pakistani.

      I think government ko sub kuch privatize ker dyna cheyea atleast hum logon ko behter services tu mileean gey naa yehan tu na lite hai na lora bhanchood

      • K.A.

        moderation of comments by Aizaz is requested.

        We don’t beg from Saudi Arabia, we pay 4 times the price of what we would be paying in KSA for a litre petrol, if our politicians beg, this is their problem, they have no character and no moral values. Common man uses CNG not petrol now.

        Deal with Etisalat was really unfair as PTCL is a giant organization sold in pennies, will they pay interest on the amount they have held as according to MO IT possession of land and other property isn’t in contract. If it is so, Etisalat must be asked to pay interest for last last years on this amount.

  • by the way what is so precious in PTCL…??? as you discussed in your post :)

  • Yasir

    Pl avoid hitting some body in the personal capacity or personal remarks or sarcazmic remarks hitting some one in person.

    Pl, be to the point .

    Make it clear in your minds , PTCL is niether mine nor yours , nor any govt official , It is the scared trust of the future generation of pakistan.

    It is never acceptable that a few in the govt lot are building the houses/castles of thier dreams at the cost of the future of our generations

    Ptcl , i make it clear is very precious. It is priceless asset of the people of pakistan which have earned the Govt at lot of profit which declined soon after its privitization.

    Its every inch of land is not less than gold.

    It is very painful that such a profit earning company has been handed over to the outsiders at a very very cheap rate .

    So freind, it is required to make a sensable approcah , The services of telecom have not improved after the privitization. Rather a sheer decline the level of services was seen.

    As far as petrol is concerned, Pl make it clear Pakistan is the land that has been bestowed by every gift of Allah which one can think of . It is due to our rulers corruption and plindering and kickbacks that the peeople of pakistan are striving a very vulnerable life .

    It is very sad to mention about my country and my people of pakistan as, “Poor people of the Rich country. ”

    Also the history is witness that no foreign was able to concour until and unless the betrayers did offer the help to the outsiders like Mir Jaffar and Mir sadiq.

    All the readers will agree that Pakistan is not short of any blessing of Allah . It is due to the lack of sinerity of the rulling junta that many talented brains are now serving outside the country.

    Still people who are outside the pk\akistan love thier country , Pakistan and we are feel proud to be pakistani even if it has been inflicted badly by the agents of the foreign secret hidden hands.

    Yes, I m emotional child because the child thinks in an inooocent way and in the sriaght way rather than running with the hare and huting with the hounds.

    Pakistan needs no assitstance from any body.

    So pl my freind , donot give any such remarks which are agaisnt our beloved country
    Pakistan.

    Pl pl avoid such rediculous remarks.

  • @Yasir K.A: Blaa blaa blaa bhot boltay ho tum log.. don’t get emotional kids.

    They have already sold out PTCL and we cheap and weak nation INCLUDING ME is good for nothing.

    We can not do any thing else then to obey what ever higher officials says.

    We should accept that we are slaves of Britishers.

    IF YOU DON’T AGREE THEN YOU SHOULD DO SOMETHING FOR REVOLUTION …

    LONG LIVE MY COUNTRY AND YOU PEOPLE OF PAKISTAN.