Officials of the Privatization Commission on Monday clarified that Pakistan Telecommunication Company Limited’s (PTCL) privatization took place in 2006 through an international agreement between the Government of Pakistan and Etisalat Group, not with PTCL directly.
The Commission informed the National Assembly Standing Committee on Information Technology and Telecommunication that the Sale Purchase Agreement signed in 2006 for the sale of 26 percent shares in PTCL was directly between the Etisalat Group and the government. PTCL was not involved in the negotiations at all.
Officials further explained that PTCL is a subsidiary of the Ministry of IT and Telecom, and that further details could be shared only if authorized by the ministry, potentially in a closed-door session.
Committee member Sadiq Memon criticized the lack of coordination between the Ministry of IT and the Privatization Commission and called it a failure of governance.
Joining via Zoom, Hatem Bamatraf, President & CEO, PTCL Group briefed the committee on the group’s technological focus, including 5G and artificial intelligence, and emphasized the strong bilateral relations between Pakistan and the UAE.
In view of the sensitive nature of the SPA agreement, the committee decided to defer the PTCL asset discussion and instructed that the issue be taken up in an in-camera meeting in the near future.
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