PTCL refutes reports of potential change in investment position of e& in Pakistan

The Pakistan Telecommunication Company Limited (PTCL) on Thursday rejected reports claiming that UAE telecom giant Etisalat was “reviewing its exposure to Pakistan’s telecom sector”, which could lead to its exit from the PTCL.

“The company would like to reject the baseless and speculative reports and is not aware of the sources referenced in these reports. As a publicly listed entity, PTCL emphasises the importance of accurate and responsible reporting, as unverified information may lead to unnecessary market speculation,” the PTCL said in a statement.

“PTCL’s shareholders remain fully committed to the company’s long-term strategy and growth trajectory. This is reflected in key strategic initiatives, including the acquisition of Telenor Pakistan and Orion Towers, Ufone’s 5G spectrum acquisition, and the continued expansion of the company’s fiber network across the country,” the statement read.

In 2006, Pakistan privatised the PTCL by selling a 26% stake and management control to Etisalat International Pakistan for $2.6 billion. While initially hailed as a landmark reform, the deal has been plagued by a prolonged dispute over the transfer of properties, with approximately $799 million still withheld by Etisalat.

In January 2026, Pakistan Deputy Prime Minister and Foreign Minister Ishaq Dar reached Dubai to meet with the management of Etisalat, seeking to resolve the long-standing dispute. Pakistan sought a prompt settlement of the unresolved issue.

Earlier this month, the Transparency International Pakistan (TIP) urged the Adviser to the Prime Minister on Privatisation, Muhammad Ali, to direct the Pakistan Telecommunication Authority (PTA) to recover outstanding dues from Etisalat.