Chairman Etisalat: Privatization of PTCL Was Transparent

The deal of privatization of PTCL with Etisalat was made in the violation of procedures and rules and it was not transparent, this was the statement made by Senator Waqar on National Assembly floor. In response to this statement Mr. Mohammad Omran the Chairman of Etisalat said, the investment of Etisalat in PTCL was due to the encouragement and a welcome invitation by the Government of Pakistan in order to participate in the process of privatization, which was accepted by the corporation.

Mr. Omran said that in addition to formal commercial considerations and other financial valuation, strict procurement rules and the governance of Etisalat needed that before approving an attainment of an asset, its Board of Directors obtained a authorized opinion from country National and International external counsel which confirmed in no vague terms that the obligatory steps for the sale of that asset had been followed and that the acquisition is legally valid under the laws of the relevant country.

He also added that as one of the largest listed entities in the country in addition to its status as a leading regional Telecom operator and as a UAE public corporation, Etisalat applies the highest standards of lucidity in conducting its International expansion strategy and business operations and a mission to add value wherever its reach took it.

Mr. Omran also pointed out that the business agreements with the Government of Pakistan call for the transfer of the properties in question to PTCL and not to Etisalat.

As far as withholding of installment payments are concerned, Mr. Omran added that under the agreed terms of the transaction, Etisalat is entitled to withhold payments until the property titles were transferred to PTCL.

“Our aim is to ensure that PTCL receives clean title to and possession of all properties,” said Mr. Omran.  He added, “We are confident that when the Privatization Commission fulfils this obligation, Etisalat will immediately release the installments.”

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2 Responses to "Chairman Etisalat: Privatization of PTCL Was Transparent"

  1. farooq shah says:

    i farooq asghar shah again register my complain against my tephone no 0298550330 from thatta, i alos registerd my complain so many time 1218 but ur local ptcl replied ( jao jo kana hai). here your staff is openly salining wires to private men in unsing electricity in theft wapda i can also prove that, if a committee consituted from higher management, i also regiter my complain to the gm str 1 on his mobile no 03332763655. his reply was dont worry i ordered for follow ur coplain. i also complain to hyderabad gm on 0222783063 mr naeem said sir today ur line will ok. but sorry to say i am paying dsl charger regular but no one is following my complain. i strongly request the chairman etsalat/PTCL kindly interviene in this mattar and save ptcl service in thatta. thats y people is disconnecting ur ptcl service due to not following complains here
    i thank ful to you sir please help me
    farooq shah

  2. i Dr.syed Taj mohammad shah jillani again register my complain telephone no.0222763600 at distt:Tando Allahyar. i alos registerd my complain so many time 1218. but ptcl replied(ok.ok.ok.ok.ok.ok.) no soul my complen. i also complain to area exchange .my area line man Mr. sharif memon says pay monthly Rs.500.we ok your phone. but sorry to say i am paying dsl charger regular and billing. i strongly request the chairman etsalat/PTCL kindly intrest in this request.
    i thank ful to you sir please help me
    Dr.syed Taj Mohammad shah Jillani .
    Distt:Tando allahyar.

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