Pakistan and the United Arab Emirates (UAE) have moved to address long-standing Pakistan Telecommunication Company Ltd (PTCL) -related issues, holding discussions aimed at resolving operational bottlenecks and unlocking growth opportunities for the telecom major.
The development came during a high-level meeting between Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar with H.E. Jassem Mohammed Bu Ataba Al Zaabi, Chairman of the Department of Finance Abu Dhabi, Secretary General of Abu Dhabi’s Supreme Council for Financial and Economic Affairs, Chairman of Etisalat (e&), and Vice Chairman of Abu Dhabi Holding Company (ADQ), in Dubai.
The meeting highlighted the deep-rooted historic ties of brotherhood, friendship, and mutual support between Pakistan and the UAE, which continue to serve as a strong foundation for bilateral cooperation, the Ministry of Foreign Affairs said in a statement on Saturday.
“Both sides also explored opportunities to increase UAE investments in Pakistan and exchanged views on broadening and deepening trade and economic relations to unlock greater mutual prosperity.
“Discussions also focused on Etisalat’s (e&) ongoing investment in Pakistan and its plans to expand its footprint through its flagship stake in PTCL,” read the statement.
During the meeting, the two sides reaffirmed the directives from the leadership of Pakistan and the UAE to further strengthen economic and trade ties. They exchanged perspectives on resolving long-standing issues related to PTCL’s operations and future growth.
Dar emphasised the need to promptly settle remaining issues and to collaborate closely to enhance bilateral economic relations, build on historic goodwill, and open new avenues for investment, trade, and joint ventures. H.E. Jassem Mohammed Bu Ataba Al Zaabi expressed full agreement and reaffirmed his strong commitment to advancing shared objectives.
Both sides agreed to pursue joint efforts to expeditiously resolve outstanding matters and to actively promote initiatives that expand economic and trade cooperation, fully aligned with the guidance of their respective leaderships.
Dar arrived in Dubai on Friday on an official visit to meet with the management of UAE telecom giant Etisalat, seeking to resolve the long-standing dispute over the withholding of approximately $799 million related to the unfinished privatisation of PTCL.
According to analysts, Dar’s visit to the UAE comes at a crucial time, as the Middle East is passing through a sensitive phase. Pakistan, the UAE, and several other countries have decided to join Gaza’s Board of Peace at the invitation of US President Donald Trump.
Dar’s trip is being seen as a significant development, coming amid reports of growing strains in relations between Saudi Arabia and the UAE.
In 2006, Pakistan privatised PTCL by selling a 26% stake and management control to Etisalat International Pakistan for $2.6 billion. While initially hailed as a landmark reform, the deal has been plagued by a prolonged dispute over the transfer of properties, with approximately $800 million still withheld by Etisalat.
The Pakistani government has been accused of failing to transfer PTCL properties mentioned in the 2006 agreement to the UAE firm as per the deal’s terms.
Despite attempts, the dispute remains unresolved, with reports in 2025 indicating fresh, in-camera talks to settle the lingering property transfer issues.
According to officials, Pakistan stands firm on its earlier decision not to pursue legal action to resolve a 16-year-old dispute.
In March 2006, the then government signed an agreement with Etisalat under which 3,384 properties of PTCL had to be handed over to the company. However, the properties on the ground were only 3,248, while 38 properties could not be transferred.
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