PTCLs issues... By Shahryar 04 August, 2014 Published today in Pak Tribune and Daily Times today on 04-08-2014. paktribune/news/PTCLs-issues-By-Shahryar-270619.html dailytimes.pk/letters/04-Aug-2014/ptcl-s-issues In 2006 38 percent shares of PTCL were sold to a UAE based company, Etisalat Telecom in a privatization bid. Unfortunately $ 800 million have still not been paid by Etisalat because of pending transfer of PTCL land. Since 62 percent of PTCL shares are still owned by the government, it should not be a problem to transfer or exchange PTCL owned properties or land to resolve this dispute. This means that Etisalat Telecom is running PTCL in spite of the $ 800 million owed by it to the government. At 14 percent interest rate, the government of Pakistan is paying $ 112 million every year on behalf of Etisalat. As a citizen of Pakistan, I demand that Etisalat be made to pay the interest on these outstanding dues, and if Etisalat refuses, than shares amounting to $ 800 million should be transferred to the government of Pakistan, along with the profit since 2006 for the said shares. Engr Shahryar Khan Baseer Peshawar
Posted on: Mon, 04 Aug 2014 16:13:42 +0000
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