Anusha Rehman Meets PTCL President for Recovery of Etisalat Held USD 800 Million

Anusha Rehman Meets PTCL President for Recovery of Etisalat Held USD 800 Million

Anusha Rehman, Minister of State for IT and Telecom, yesterday met with Mr. Walid Irshaid, CEO and President of PTCL, to discuss the matter of pending Etisalat payment towards government of Pakistan.

Etisalat is holding a USD 800 million or PKR 80 billion payment to Government of Pakistan from 26 percent stakes purchase in PTCL in 2005.

PTCL, in the past, has always maintained that matter of pending payments is between Etisalat and Privatization Commission and that company has nothing much to do about this.

However, for the first time, Mr. Walid Irshaid is reported in media to have discussed the matter of outstanding Etisalat payments.

It maybe recalled that Etisalat – through PTCL — is aggressively perusing to get cent percent hold of Warid Telecom in Pakistan. However, Pakistan is looking to block the deal if Etisalat decides to not to clear the pending payment.

Sources tell ProPakistani that Etisalat-Warid deal is almost through. Both the sides are now evaluating the regulatory approvals and other post-announcement factors that may impact the deal after it will be announced officially.

ProPakistani is expecting the announcement for Etisalat-Warid deal through a foreign media-outlet during next few days.

Tech reporter with over 10 years of experience, founder of ProPakistani.PK

  • Shehzad

    Anusha Rehman will be a saint if she succeeds in recovery of this dear amount.
    GoP should also impose and collect a penalty for late payment. 80 billion should now be 160 billion. Ufone, PTCL, Vfone, Evo- all are crap, pathetic services and yet these corrupt and perverted delinquents enjoy market monopoly and largest share, of course by exploiting the situation and the demand.

  • Pakistani

    should now impose penalty for late payment

  • Fraz

    This is our money and GoP must get it back.Otherwise should take control of the company ,enough is enough.

  • LTE Lover

    GOP should deprive Etisalat group (Ufone, PTCL or by acquisition of Warid) from participating in 3G auction. That is the only way to recover Rs. 80 billion. At this point of time when Pakistan is having less than US $ 8 billion foreign reserve this Rs 80 billion or US $ 800 million will give fresh blood to Pakistan economy. GOP should allow Etisalat acquisition of Warid but they should not allow participation of both companies in 3G auction.
    PPP Govt. every time flattened and gave grace period to Etisalat on Sheikh sb. call, lets have our finger crossed and expecting some good and solid stand from Sharif’s Govt.

    • Raja Maja

      it will be insha Allah.

    • Baghi

      You may be expecting but not Me, PPP(Ghadari) and PML(Noora) are the two faces of the same coin……

      • AAA

        And you, probably are, the parha likha jahil 3rd face of the same coin i.e PTI(Taliban Khan).

  • Ptcl blood sucking khatmal

    how about she also fine ptcl on the pathetic services they are providing…. EVO wingle 9.3 now works like a dial up connection F,U PTCL

    • Ptcl blood sucking khatmal

      Incompetent PTCL and incompetent PTA both sailing in the same boat