PTCL-Etisalat Outstanding Dues Issue in Senate of Pakistan
Islamabad (Friday, February 28, 2014) – On Thursday, Feb 27, Finance Minister, Senator Muhammad Ishaq Dar told Senate that 26 percent shares of PTCL were sold out to Etisalat for $2,598,960,000, of which it has paid $1,799,653,313.31 while $799,306,686.62 was yet to be paid by the company.
The reason for the delay by Etisalat, he said all properties included in the share purchase agreement had not been transferred in the name of PTCL. He said that Privatisation Commission was making efforts to transfer the remaining properties of PTCL to the company.
He was responding to a question raised by Sughra Imam in Senate. Questions was:-
1) Amount of out-standing against Etisalat on account of PTCL privatization and.
2) The steps being taken by government for recovery of said amount.
Debate on PTCL Privatization in Senate