Etisalat Ready to Pay PTCL Privatization Dues After Getting 3G Spectrum License
(News Report Published in Daily Express Lahore on Sunday, February 23, 2014)
Islamabad (Sun, Feb 23, 2014) – UAE based telecommunication, Etisalat has offered to pay remaining due of PTCL privatization (80 million dollars). This transaction will be completed after receiving 3G/4G advanced mobile spectrum license.
This offer has been made in a meeting of Etisalat official with finance minister Mr. Ishaq Daar. This meeting was held in Dubai (UAE) last month.
Government of Pakistan is planning to conduct 3G mobile spectrum auction in the last week of March. It is expected that the whole process will complete on April 15, 2014. Total six licenses are being planned to sale through auction. Three Licenses for 3G Slot, 2 Licenses for 4G slot and One for new telecom firm.
Pakistan Telecommunication Authority (PTA) is conducting technical aspects of mobile auction with the help of Value Partners Management Consulting Limited (Consultant ).
PTCL was privatized in 2006. Twenty six percent shares was handed over to Etialat with complete management control. After the privatization PTCL has layoff almost 40 thousands employees through voluntary separation scheme (VSS). Theses retirement scheme was launched in 2008 and 2012. Recently again VSS has been offered to lot of PTCL regular officers.