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Etisalat to hold talks with Pakistan over outstanding PTCL dues

ISLAMABAD: A delegation of Dubai-based Etisalat is expected to visit Pakistan this month to re-initiate talks to resolve $799 million outstanding dues against the company on account of privatisation of Pakistan Telecommunication Company Limited (PTCL). According to the officials of the Privatization Commission the deadlock with the company about outstanding dues on account of PTCL privatization have been ended and the two sides would try to find out a middle path for resolution of the matter. A delegation of Etisalat…

Etisalat stalls $800 mln Pakistan payment as dispute lags

Dubai/Islamabad: Etisalat has told Pakistan it will not the pay the $800 million it owes the government from buying a stake in the country's state telecom operator until a property dispute is entirely resolved, two senior finance ministry sources said. The money owed, which dates back to last decade, would provide vital funds for Pakistan's cash-strapped government, but Etisalat will not pay up until affiliate Pakistan Telecommunication Co Ltd (PTCL) receives ownership of the final 10 properties out of about 3,000 it is…