By Staff Reporter
Islamabad: Pakistan has recently repaid a $3.45 billion deposit to the United Arab Emirates after considerable financial strain, according to media reports. The development comes at a sensitive time for the country’s economy and investment climate.
In a related move, UAE-based telecom group e& (formerly Etisalat) is reportedly reviewing its investment in Pakistan Telecommunication Company Limited. The company currently holds a 26% stake along with management control in PTCL, a key pillar of Pakistan’s telecommunications infrastructure.
Sources indicate that the review process is still in its early stages, and no final decision has been made. However, reports have also surfaced alleging financial irregularities and possible kickbacks linked to the original deal, though these claims remain unverified.
PTCL plays a central role in the country’s telecom sector, providing fixed-line services, broadband connectivity, and core internet infrastructure. Any potential withdrawal by e& could have far-reaching implications for service stability and future investment in the sector.
Analysts warn that such a move may shake investor confidence at a time when Pakistan is already navigating economic challenges. Stakeholders are closely monitoring the situation, as any major shift in PTCL’s ownership structure could significantly impact the broader telecommunications landscape.
