ISLAMABAD – Pakistan and UAE agreed to intensify joint efforts to swiftly resolve outstanding issues related to Pakistan Telecommunication Company Ltd PTCL while actively promoting initiatives to expand economic and trade cooperation.
The delegation led by Deputy Prime Minister Ishaq Dar pressed for urgent settlement of long-standing disputes surrounding the privatisation and operations of PTCL, managed by UAE telecom powerhouse Etisalat. For the unversed, PTCL is partly owned by Pakistani government, which holds about 60%, and partly by Etisalat, which owns around 26% and runs the company.
Etisalat got control 2 decades back, but Pakistani government still has majority and a big say in how PTCL is run.
The key issue is around $799 million reportedly withheld by Etisalat, which remained focus of intense discussions during high-profile meeting in UAE. Deputy PM and Foreign Minister Senator Ishaq Dar, met with Jassem Mohammed Bu Ataba Al Zaabi, a key UAE official holding multiple top positions, including Chairman of Etisalat (e&), Chairman of Abu Dhabi’s Department of Finance, Secretary General of Abu Dhabi’s Supreme Council for Financial and Economic Affairs, and Vice Chairman of Abu Dhabi Holding Company (ADQ).
According to Pakistani Foreign Office, talks underscored deep-rooted historic ties of friendship and cooperation between Pakistan and UAE, which continue to provide a strong foundation for expanding bilateral ties.
Dar, who arrived in Dubai on Friday, sought to resolve disputes stemming from PTCL properties that were supposed to be transferred to Etisalat under the 2006 privatisation deal.
Both sides also explored major opportunities to boost UAE investments in Pakistan and discussed strategies to broaden trade and economic ties, unlocking new avenues for mutual prosperity. Etisalat’s ongoing investments and plans to expand its footprint through PTCL were central to the discussions.
Foreign Office termed dialogue as cordial yet constructive, with both sides reaffirming directives from their leadership to enhance economic and trade cooperation. Discussions focused on resolving PTCL’s operational challenges and supporting its future growth.
Dar stressed need to promptly settle all outstanding matters and strengthen bilateral economic relations, building on historic goodwill while opening doors for investment, trade, and joint ventures. Jassem Mohammed Bu Ataba Al Zaabi expressed full agreement and committed to advancing shared objectives.
Both sides pledged to actively collaborate to resolve pending issues and implement initiatives to expand trade and economic cooperation in line with leadership guidance.
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