Seven-year-old row: Govt-Etisalat fail to resolve dispute
Meeting discussed transfer of 131 properties to PTCL.
Meeting discussed transfer of 131 properties to PTCL. CREATIVE COMMONS
ISLAMABAD:
Pakistan’s hopes of finding an early solution to its ongoing row with Etisalat – the owner of 26% of shares of Pakistan Telecommunication Company Limited – were dashed after talks on Wednesday failed to achieve breakthrough.
Talks to resolve the seven-year-old dispute over Rs800 million in outstanding payments were held in Islamabad. According to an official statement, the Pakistani delegation was led by Finance Minister Ishaq Dar and the Etisalat delegation was led by the company’s Chief Executive Officer, Ahmad AK Juffar.
“The meeting which was held in a very constructive and congenial atmosphere discussed the issue of the transfer of 131 remaining properties to PTCL and the long overdue payment of $800 million to Pakistan,” it read.
There were no official words on why the talks remained unsuccessful. Etisalat did not commit anything concrete to the government, as evident from the official handout.
“Ahmad AK Juffar informed the finance minister that he would take up the issue with the board of directors of Etisalat for an early resolution of the matter,” it stated.
Dar, meanwhile, reiterated the government was committed to transfering all remaining properties to PTCL and urged the Etisalat delegation to settle the dispute as early as possible.
Pakistan has counted $800 million as part of its external inflows for the current fiscal year and any delay will affect the already precarious level of the country’s foreign exchange reserves.
Published in The Express Tribune, December 19th, 2013.
Pakistan’s hopes of finding an early solution to its ongoing row with Etisalat – the owner of 26% of shares of Pakistan Telecommunication Company Limited – were dashed after talks on Wednesday failed to achieve breakthrough.
Talks to resolve the seven-year-old dispute over Rs800 million in outstanding payments were held in Islamabad. According to an official statement, the Pakistani delegation was led by Finance Minister Ishaq Dar and the Etisalat delegation was led by the company’s Chief Executive Officer, Ahmad AK Juffar.
“The meeting which was held in a very constructive and congenial atmosphere discussed the issue of the transfer of 131 remaining properties to PTCL and the long overdue payment of $800 million to Pakistan,” it read.
There were no official words on why the talks remained unsuccessful. Etisalat did not commit anything concrete to the government, as evident from the official handout.
“Ahmad AK Juffar informed the finance minister that he would take up the issue with the board of directors of Etisalat for an early resolution of the matter,” it stated.
Dar, meanwhile, reiterated the government was committed to transfering all remaining properties to PTCL and urged the Etisalat delegation to settle the dispute as early as possible.
Pakistan has counted $800 million as part of its external inflows for the current fiscal year and any delay will affect the already precarious level of the country’s foreign exchange reserves.
Published in The Express Tribune, December 19th, 2013.