Pakistan Gives Up Hopes of Recovering $800 Million from Etisalat

Government of Pakistan has apparently given up all hopes of Etisalat paying $800 million for the shares the latter had bought in PTCL back in 2005.

This was hinted in Pakistan’s budget documents, where unlike all previous years, government didn’t include $800 million — to be recovered from Etisalat — as its non-tax revenue for year 2016-17.

While ProPakistani’s efforts for asking the viewpoint of government were unsuccessful, there are three possible possibilities of what might have happened:

Option 1: Pakistan marked it a bad debt to write it off, instead of including it in the annual revenues for the 12th consecutive year.

Option 2: Government reached an agreement with Etisalat but didn’t tell anyone. And that this $800 million was probably waived off.

Option 3: Government forgot to add the recoverables in next year’s revenue, and that whatever we are thinking is just out of proportion.

We will continue to ask the government about what has actually happened and will let you know of the outcome.

Meanwhile, What do you think might have happened here?

  • Who was going to stop them? Govt? Maybe tax the number of Etisalat Employees who fly Business Class on Etihad from Abu Dhabi to Islamabad (400 PKR? a flight?) Debit paid off in 2 years.

  • Pehly Etisalat ko khoob jee bhar k khaya ha hamari govt and employees ny or jb unko samjh i ha k hamari itny ke thukk gai ha to bhaagty bhaagty ab unko 800 million ka choona b lagany ka soch rahi ha hamari govt

  • How is it Etisalat’s fault? Why not blame the department that signed a deal with them that said any property owned by PTCL will be transferred to them? And then around 131 major properties out of 3400 were not transferred.

    Etisalats legally doing this and as a business why should they not? Blame the idiot who signed the deal terms!

  • Instafone license needs to be restored immediately. They defaulted on their mobile license but got shut down. If PTCL is not shutdown, then Instafone needs to be reinstated.

  • Good one atleast ptcl is improved after privatization very much. I don’t care if they give money or not ptcl was useless garbage before Etisalat.

  • PTA should suspend Etisalat’s license till they sign an agreement to pay this long pending amount of $800 million. To make it easier for Etisalat, govt can spread the payment over 2-3 years.

  • What about Pakistans Biggest THIEF ZARDARI No body quoting his name He took largest Loan in 68 years of Pakistans life and Not a single Metro and took all money.Has to his credit 2 corrupt Prime Ministers , Shargil Memon, Muzaffar Tappi and 100 of other Front men to his credit

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