Pakistan seeks prompt settlement of issues relating to privatisation, operations of PTCL by UAE

ISLAMABAD: Pakistan on Saturday sought a prompt settlement of long-standing unresolved issues related to the privatisation and operations of Pakistan Telecommunication Company Limited (PTCL), operated by the UAE’s telecom giant Etisalat.

The contentious issues - including the payment of approximately USD799 million by Etisalat to the government of Pakistan - were discussed during a meeting in Dubai between Deputy Prime Minister and Foreign Minister Senator Ishaq Dar and Jassem Mohammed Bu Ataba Al Zaabi, Chairman of the Department of Finance Abu Dhabi, Secretary General of Abu Dhabi’s Supreme Council for Financial and Economic Affairs, Chairman of Etisalat (e&), and Vice Chairman of Abu Dhabi Holding Company (ADQ), in Dubai.

A statement issue by the Foreign Office said that the meeting highlighted the deep-rooted historic ties of brotherhood, friendship, and mutual support between Pakistan and the United Arab Emirates, which continue to serve as a strong foundation for bilateral cooperation.

READ MORE: Issues facing PTCL properties: Dar in Dubai to hold talks with Etisalat

Ishaq Dar arrived in Dubai on Friday to meet with the management of UAE telecom giant to resolve the long-standing dispute over the withholding of approximately USD799 million by Etisalat due to disputes over the PTCL’s properties, which had to be transferred to Etisalat as per the 2006 privatisation deal.

The Foreign Office said both sides also explored opportunities to increase UAE investments in Pakistan and exchanged views on broadening and deepening trade and economic relations to unlock greater mutual prosperity. Discussions also focused on Etisalat’s (e&) ongoing investment in Pakistan and its plans to expand its footprint through its flagship stake in the Pakistan Telecommunication Company Limited (PTCL).

According to the Foreign Office, the talks were cordial and constructive. The two sides reaffirmed the directives from the leadership of Pakistan and the UAE to further strengthen economic and trade ties. “They exchanged perspectives on resolving long-standing issues related to PTCL’s operations and future growth,” the statement added.

Deputy Prime Minister and Foreign Minister emphasised the need to promptly settle remaining issues and to collaborate closely to enhance bilateral economic relations, build on historic goodwill, and open new avenues for investment, trade, and joint ventures. Jassem Mohammed Bu Ataba Al Zaabi expressed full agreement and reaffirmed his strong commitment to advancing shared objectives.

Both sides agreed to pursue joint efforts to expeditiously resolve outstanding matters and to actively promote initiatives that expand economic and trade cooperation, fully aligned with the guidance of their respective leaderships.

The Deputy Prime Minister and Foreign Minister were assisted by Shafqat Ali Khan, Ambassador of Pakistan to the UAE; Ali Zeb, Trade Counsellor; Fawad Ali Khan, Acting Consul General; and Faraz Arshad, Third Secretary.

Jassem Mohammed Bu Ataba Al Zaabi was assisted by Masood Mohamed Shariff, CEO of Etisalat UAE.

Copyright Business Recorder, 2026