The federal cabinet has approved the appointment of Prime Minister’s Adviser Ahad Khan Cheema as a Land Utilization Expert in the PTCL Board.
Sources have told ProPakistani that the federal cabinet through the circulation of the summary of the Ministry of Information Technology and Telecommunication approved the inclusion of the PM’s adviser in the PTCL board as a land utilization expert for three years.
Sources said that the cabinet has terminated the membership of the National Information Technology Board (NITB) Executive Director in the PTCL Board.
The government has a point of view that Cheema as a Land Utilization Expert will work to retrieve the outstanding sale proceeds of PTCL amounting to $800 million from Etisalat International.
Etisalat Holding Back Bid Proceeds
It is pertinent to note that Etisalat has been holding back $800 million out of $2.6 billion bid proceeds of majority stakes in PTCL for almost 16 years now on the premise that Pakistan did not transfer titles of all the properties owned by the privatized entity.
Reportedly, the PTCL’s asset management department had mentioned 3,384 properties while originally owning only 3,248 properties in the privatization agreement finalized in 2006.
Etisalat had made upfront payments of $1.4 billion in a couple of installments but then stopped the remaining amount of $800 million on the premise of non-transfer of all properties in the name of PTCL.
Etisalat claimed that the number of non-doable properties was not 33 but 363 based on the list provided by the asset management department of PTCL as part of the sale-purchase agreement.
bravo,, sub puranay dakait wapis iktidiaar mein. 800million ka 10% kitna banta hay!! no need to answer, samajhdaar logon ko pata hay is liye Ahad sb wapis aagaye hain