Dar directs Privitisation Commission to resolve PTCL dispute

Finance Minister Ishaq Dar has directed the Privatisation Commission to resolve the disputes involved in the transfer of properties pertaining to Pakistan Telecommunication Company Limited (PTCL) and remove all hurdles within 10 days so that this longstanding issue can see an early closure.

Dar gave these directions when a three-member Etisalat/PTCL delegation comprising of PTCL President/CEO Walid Irshaid, Etisalat Asia CEO and Etisalat Pakistan Chairman Abdul Rahim Nooryani paid a courtesy call on him here on Friday.

Nooryani, while talking to finance minister, congratulated Prime Minister (PM) Nawaz Sharif on assumption of his office and expressed their sincere wishes for the government and the people of Pakistan.

On the occasion, Nooryani said that they have come to this meeting with full confidence that transparency, merit and sincerity would be practiced by the government.

During the meeting Dar raised the issue of receivables of $800 million from Etisalat and apprised the delegation that the current government felt that this issue should be resolved in the spirit of brotherly relations that existed between Pakistan and the United Arab Emirates (UAE).

Furthermore, Dar appraised the delegation that the present financial situation in Pakistan demanded an early settlement of this long standing issue so that this receivable could ease the foreign exchange situation of the country.

Dar also said that Pakistan wanted a fair, transparent and equitable resolution based on established commercial rules, as this was a commercial transaction.

Meanwhile, the Etisalat/PTCL delegation said that since the last seven years they have been making serious efforts to get the titles of the 131 properties transferred after which the outstanding payments due towards Pakistan could be paid.

Dar impressed upon the delegation that issues pertaining to properties would be resolved and he that would take personal interest in the matter.
Moreover, Dar informed the delegation that the government had recently concluded agreement with the IMF, settled outstanding dues of Private Power Producers and that he had made a commitment on the floor of the National Assembly to bring an early resolution for the issue of receivables from Etisalat.

Dilating upon the vision of PM Nawaz for the economic development of the country, Dar said that they were confident that the present government could steer the country out of the present financial situation and micro-economic imbalances by embanking on a policy of zero tolerance for corruption and ensuring transparency in all official transactions.

Dar further said that they would resolve this issue with Etisalat at the earliest by indulging in out of the box thinking on fast track basis.

Meanwhile, the Etisalat delegation assured the finance minister that they saw Pakistan as a country ripe with opportunities and would go back and report the good intentions of Pakistan towards them.

The delegation also invited the finance minister to visit the UAE which he accepted and said that the UAE was his second home.