0

PTCL: Privatization Deal Unfair, Contrary to Rules

Senator Waqar Ahmed Khan, the Federal Minister for Privatization revealed in the National Assembly that the deal of privatization between Etisalat and PTCL was made in the violation of procedures and rules and was not transparent.

PTCL Logo

The deal was made in contrary to the procedures and rules and it was not transparent said the minister while replying to a question. Later the subject was referred to the National Assembly Standing Committee on Privatization for investigation by the House.

The opposition party asked the chair to form a special parliamentary committee to investigate the matter but Faisal Karim Kundi the Deputy Speaker said that the matter is already under discussion with the standing committee concerned.

He added that “if members of the committee feel that formation of special committee is vital it would be done.”


Advertisements

He informed the House that transaction was made without taking the Privatization Commission Board into confidence and that the SPA was finalized, he also added that Etisalat has suspended $800 million over the alteration of land issue to be transferred to the UAE-based company.

He said, that around 3,500 properties were to be reassigned to Etisalat which also include lands not even owned by federal or any provincial government, those are private properties are under lawsuit.

The government has received an amount of US$ 1.79 billion from the Etisalat out of that an amount of US$ 1.5 billion has been forwarded to federal government for poverty alleviation and debt retirement.

The government is trying to resolve the issue of pending amount good-naturedly through diplomatic channels said Waqar Ahmed. He also added, so far there is no development in this regard.

Senator Waqar told the House that the deal was full of flaws and the legal advisors had asked the then government to scrap it otherwise it would be considered contrary to rules.

Later, minister for privatization also demanded the chair to re-evaluate the decision and form the committee in what the deputy speaker said it would be formed if the committee members express their wish in this regard.

Follow us on twitter2Twitter and join our facebook2Facebook Fan Page or rss2Subscribe to Our RSS Feed

Related Posts

Enjoyed this article? Submit your email to receive daily news and updates.

***You must click confirmation link sent in email. If you don't see the email, check spam folder.


Filed in: PTCL Tags: , , ,

Leave a Reply

Submit Comment

© 8211 Tech Readers. Reproduction without explicit permission is prohibited. All Rights Reserved. XHTML / CSS Valid.