Pak authorities, Etisalat making fresh efforts to resolve dispute over $800m

ISLAMABAD: Pakistani authorities and Etisalat high-ups are making renewed efforts for finding out an amicable solution for the lingering outstanding dispute of $800 million.

Earlier, all efforts failed to materialise in the past because the properties could not be handed over to Etisalat after the privatisation of PTCL. Etisalat also expressed its interest in making more investments in the country.

According to the official announcement on Tuesday issued by the Ministry of Finance stating that Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar held a meeting with a delegation of Etisalat International led by Mikhail Gerchuk, CEO e& International at Finance Division.

The delegation comprised Abdulrahim Abdulla Abdulrahim Al Nooryani, CEO of Etisalat Pakistan, Hatem Bamatraf President, and CEO of PTCL & Ufone, and Kamal Shehadi Chief Strategy e& International.

Minister of State for Finance and Revenue Dr Ayesha Ghous Pasha, SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Mehmood Pasha, Secretary Finance, Secretary IT & Telecom and senior officers from Finance and Privatisation Divisions attended the meeting.

Ishaq Dar welcomed the delegation and highlighted the deep-rooted brotherly relations between Pakistan and the UAE. He further said that the UAE is one of its major economic partners in Pakistan and Pakistan attaches great value to brotherly relations with the UAE.

The finance minister recalled his meetings with Etisalat in Abu Dhabi and Dubai during his recent visit to the UAE and underscored the significance of resolving outstanding issues between Etisalat and the Privatization Commission and moving ahead for a mutually beneficial solution. He also highlighted prospects of foreign investment in Pakistan, especially in IT and Telecom sector which is growing rapidly and said that the government is providing a conducive environment and facilitation to attract foreign investment.

Mikhail Gerchuk, CEO e& International briefed the meeting on the company’s profile and its future investments in Pakistan and expressed readiness to further invest in IT and Telecom sector in Pakistan. Both sides agreed to proceed ahead for the resolution of all outstanding issues between Etisalat and the Privatisation Commission (PC) in a spirit of goodwill.