Islamabad: Properties Transfer to Etisalat Under PTCL Deal – Provinces Demanding Market Rates

Properties transfer to Etisalat under PTCL deal: provinces demanding market rates:

 ISLAMABAD (January 10, 2011) : The federal government is in hot water over properties’ transfer issue, as provinces are demanding very high prices of the assets Pakistan is required to transfer to Etisalat of United Arab Emirates (UAE) as per revised sale purchase agreement (SPA) of Pakistan Telecommunication Company Limited (PTCL) to secure release of $800 million.

Sindh, having major portion in terms of value of the properties attached with PTCL assets to be transferred to the Etisalat, is demanding Rs 39 billion whereas the federal government is estimating total value of the PTCL properties required to be transferred to Etisalat at around Rs 10 billion.

 Sources said the federal government has taken up the matter at the highest level and authorised the Privatisation Commission to take up the issue and solve it on top priority basis with Sindh, which holds majority of the properties attached with PTCL.

 A high level official delegation of Privatisation Commission is likely to meet Sindh Chief Secretary in the next couple of weeks to ask him to review the price already referred to the federal government for payment to ensure transfer of the properties to Etisalat, the buyer of 26 percent of PTCL offloaded in 2006 through a bidding process. Punjab and Sindh were the two provinces which were required to transfer majority of the properties to Etisalat and help the federal government get the money from it.

Since the controversial properties required to be transferred to Etisalat as per revised agreement, fall in the provinces-mostly in Punjab and Sindh-they are asking the federal government to pay them the value of these assets at market price. “As transfer of properties attached with PTCL revised agreement is a serious issue and a reason to hold back Pakistan’s huge amount of $800 million, an official of the Privatisation Commission dealing with PTCL property issue with Sindh and other provinces, said: “We are requesting the provinces, in particular Sindh government where majority of PTCL assets attached with the deal fall, that it should review its demand of charging the payment from the Centre at market price. We are asking the provincial government to charge amenity rates of the properties to pave the way for early release of held up money of PTCL deal”.

 (published in Daily “Business Recorder” on January 11, 2011)

7 Comments


  1. LET THE TWO ie,GOVERNMENT OF PAKISTAN AND PTCL/UAE DISCUSS AND DECIDE IN BEST INTEREST OF THE COUNTRY AND CONSUMERS AT LARGE.


  2. THINK ABOUT HIS POSITION

    CHIEF JUSTICE IFTIKHAR MUHAMMAD CHOUDHARY SAB


  3. Federal Govt. & Privatisation Commission may treat cancel deal with Etisalat & restore PTCL in his origial form.

    Chief Justice of Pakistan may please take appropriate (SUO MOTO) action against Federal Govt,Privatisation Commission & Federal Govt. Thanks

    What is the problem of Chief Justice of Pakistan to take NO action against PTCL deal.
    If PTCL deal is done in Zerdari Govt then cancel
    Please cancel first deal then Zerdari deal and
    Chief Justice of Pakistan cancel deal in ten days
    LOG KEYTAY HEIN Chief Justice NEY APANY BATEY KO
    PTCL MEIN BHARI TANKAH PER NOKERI LEY KER DE HAY

    SHAME 4 CHIEF JUSTICE IFTIKHAR MUHAMMAD CHOUDHARY SAB

  4. lafanfy@yahoo.com says:

    wowwwwwww..govt k to mazzyyyyy $800 million……..zardari uncle u r realy a super player….sale kr do jo kuch b reh gya hy…humen b sale kr do atlst Etisalat wale apne sath dubai to ly jyn gy na,,wahan sweeper ki job kr len gy es zlalt se to achhi ho gi…
    SHAME 4 CHIEF JUSTICE IFTIKHAR MUHAMMAD CHOUDHARY SAB………..


  5. The deal with Etisalat may treat it cancel, whereas after taking charge of ptcl the management of PTCL etisalat not fulfill their commitment, their on duty employees & pensioners harassing by the present management. raise in pension & medical allowance effective from 1.07.10 pending unauthorisly & injustice/killing of human rights.

    Federal Govt. & Privatisation Commission may treat cancel deal with Etisalat & restore PTCL in his origial form.

    Chief Justice of Pakistan may please take appropriate (SUO MOTO) action against Federal Govt,Privatisation Commission & Federal Govt. thanks

  6. JAVED IQBAL says:

    اسلام علیکم و رحمۃ اللہ
    I ENDORSE REMARKS OF FAZAL ALI & SAY THAT THE SALE OF PTCL IS SALE OF PAKISTAN. IT IS JUST LIKE THE EAST INDIA COMPANY. NOW FACE THE MUSIC, AS THEY TREAT US AS JACKS/ PRISONERS.
    IN EVERY COUNTRY THE OLD AGE ARE RESPECTED BUT THE BOTH MUSLIM STATES (PURCHASER/OWNER) TREAT PENSIONERS LIKE DOGS. AS NOBODY CARES THE BARKING DOGS.


  7. A/O/A
    Govt looking to release $800 million But PTCL pensioners is looking way of GOD HELP.
    No any one of pakistani MNA/MPA/FINANCE MINISTER PRIME MINISTER/PRESIDENT OF PAKISTAN TO TAKE ACTION FOR HIS POOR RETIRED PTCL PENSIONERS,IN EVERY COUNTRY FIGHITING FOR HIS CITIZEN RIGHT BUT IT IS ONLY PAKISTAN THAT NATION IS FIGHTING FOR HIS RIGHT BUT ……..

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