Deputy Prime Minister and Foreign Minister Ishaq Dar has arrived in Dubai to hold talks with UAE telecom giant Etisalat in an effort to resolve a long-running dispute over nearly $799 million linked to the stalled privatisation of Pakistan Telecommunication Company Limited (PTCL).
The visit, confirmed by Pakistan’s Foreign Office, is aimed at breaking a deadlock that has remained unresolved for more than 16 years, after Etisalat withheld a significant portion of payments under the PTCL privatisation deal.
According to the Foreign Office, Ishaq Dar arrived in Dubai from Davos, Switzerland, and is scheduled to hold official meetings during the visit, including discussions with Etisalat’s senior management. No details were shared about any meetings with UAE ministers or senior government officials.
The dispute dates back to 2006, when Pakistan sold a 26 percent stake along with management control of PTCL to Etisalat International Pakistan for $2.6 billion. While the deal was initially viewed as a major reform step, Etisalat withheld around $800 million, citing Pakistan’s failure to transfer all properties included in the agreement.
Under the original privatisation terms, 3,384 PTCL properties were to be handed over to Etisalat. Officials later acknowledged that only 3,248 properties existed on the ground, while 38 properties could not be transferred, creating a gap that has remained unresolved to this day.
Despite multiple rounds of negotiations over the years, the issue has persisted. Reports in 2025 pointed to fresh in-camera talks aimed at resolving the matter without escalating it to international litigation.
Officials say Pakistan has so far chosen not to pursue legal action, preferring a negotiated settlement to finally close the chapter on the 16-year-old dispute.
Dar’s visit is also being viewed in a broader regional context. Analysts note that the trip comes at a sensitive time in the Middle East, with Pakistan, the UAE, and several other countries joining Gaza’s Board of Peace at the invitation of US President Donald Trump, alongside reports of emerging strains between Saudi Arabia and the UAE.
According to officials, the engagement with Etisalat is part of a wider push to strengthen economic ties with the UAE and unlock stalled foreign investment by resolving legacy disputes that continue to affect investor confidence.
All countries around the world, except planters of present form 47 govt, do not trust present regime.
PTCL privatisation was a blunder of musharraf govt, despite other offers they gave ptcl to uae sheikhs, regular employees and pensioners are not getting their proper salaries and pensions despite various courts judgements.
2006 was 20 years ago not 16 years ago
They’re govt puppets
Righto
I think government need to search for new buyer & pay back Etisalat investment as they not make payments as agreed
Ptcl properties should not be transferred to Etisalat UAE because these ptcl properties are more costly.
پاکستان کے اداروں کی قیمتی زمینوں اور بلڈنگز کو اونے پونے داموں بیچنا بند کیا جائے۔ پی۔ٹی۔سی۔ایل کی جائیدادیں اس ٹوٹل ڈیل(ایگریمنٹ) سے زیادہ قیمتی ھیں ۔ پاکستان کو نیلام کرنا بند کیا جائے
This article has not been proof read properly. Please start with the spelling of privatisation in the title to the number of years since 2006.
When these kinds of **Corruption and Criminal Attitudes are Percieved by Pakistani authorities how we can expect Foreign Direct or Indirect Investments of Millions of Dollar will Benefit Our Economy??**
Many ruling parties came and went but did not focus on this issue.
If I am not wrong PTCL was privatised in Musharraf’s time when PM was Shaukat Aziz followed by a PPP government followed by PML-N…..and matter was never resolved. Now after so long it’s settlement will be even more expensive…… and sadly there will be zero accountability for this national loss.