ISLAMABAD: Pakistan Telecommunication Company Ltd (PTCL) reported a loss of Rs7.2 billion for July to December of FY25, pushing its total accumulated losses to Rs43.6 billion, according to the biannual performance report released by the Central Monitoring Unit of the Ministry of Finance.
Despite higher revenues, PTCL continues to operate at a loss. The report noted that PTCL has moved from 10th to 7th position among the top loss-making state-owned enterprises during the current fiscal year.
The Ministry of Finance expressed concern that PTCL’s proposed acquisition of Telenor Pakistan could increase financial strain if not managed carefully. The ministry warned that the deal may disrupt PTCL’s digital transformation efforts and reduce its ability to invest in key growth areas in the future.
The report also highlighted PTCL’s outstanding pension liabilities, which currently stand at Rs42.84 billion.
PTCL had posted a net profit of Rs20.78 billion in 2005-06, the year its management was handed over to UAE-based telecom company Etisalat, which owns a 26 percent stake. The government of Pakistan retains a 62 percent share, and the remaining 12 percent is held by public investors through the stock market.
PTCL Group includes Ufone, its mobile service subsidiary, and UBank, a microfinance institution.
The Ministry described the Telenor Pakistan acquisition as a bold move that could improve PTCL’s market position. The plan offers potential benefits such as operational synergies, cost savings, and a larger customer base. However, the ministry also noted the transaction carries significant risks.
