A delegation of Etisalat, an Emirati-based multinational telecommunications services provider, briefed Finance Minister Ishaq Dar about its ongoing operations in Pakistan.
The delegation called on the finance minister at the Embassy of Pakistan in Abu Dhabi and apprised him of the future business plans of the company in Pakistan, according to a short statement issued by the Ministry of Finance.
A delegation of Etisalat called on Federal Finance Minister Senator Mohammad Ishaq Dar today at the Embassy of Pakistan, Abu Dhabi. The delegation apprised the Finance Minister about the ongoing Etisalat operations in Pakistan and their future business plans. pic.twitter.com/n456ALEMTc
— Ministry of Finance, Government of Pakistan (@Financegovpk) November 10, 2022
PTCL-Etisalat saga
It is pertinent to mention here that Pakistan has been trying to resolve the PTCL-Etisalat deal for many years. The company has been holding back $800 million out of $2.6 billion bid proceeds of majority stakes in PTCL for almost 16 years.
Etisalat had made upfront payments of $1.4 billion in a couple of installments but then stopped the remaining amount on the premise of non-transfer of all properties in the name of PTCL.
Last month, the federal cabinet approved the appointment of Prime Minister’s Adviser Ahad Khan Cheema as a Land Utilization Expert in the PTCL Board in a bid to retrieve the outstanding sale proceeds of PTCL.
Stay Connected with ProPakistani
Get the latest business news, market insights, and economic updates wherever you prefer.
Add ProPakistani to Preferred Sources and see more of our stories in Google Search and Top Stories.
