Ishaq Dar visits Dubai to seek resolution of $799 million PTCL dispute with Etisalat

Deputy Prime Minister and Foreign Minister Ishaq Dar arrived in Dubai on Friday on an official visit to hold talks with the management of Etisalat aimed at resolving the long-standing dispute over approximately $799 million withheld in connection with the privatisation of Pakistan Telecommunication Company Limited, Business Recorder reported. 

In a statement, the Ministry of Foreign Affairs said Dar travelled to Dubai from Davos, Switzerland, and will hold official meetings during the visit, including engagements with Etisalat’s management.

The visit comes amid renewed efforts to address the unresolved issues stemming from the 2006 privatisation of PTCL, under which Pakistan sold a 26% stake along with management control to Etisalat International Pakistan for $2.6 billion. A portion of the payment, amounting to about $800 million, remains withheld due to disputes over the transfer of PTCL properties specified in the agreement.

Under the privatisation deal, 3,384 PTCL properties were to be transferred to Etisalat. However, officials have said that only 3,248 properties were available on the ground, while 38 could not be transferred, leading to prolonged disagreement between the two sides.

Despite multiple rounds of talks over the years, the dispute has remained unresolved. Reports in 2025 indicated that in-camera discussions were held to explore a settlement of the property transfer issue.

Officials said Pakistan continues to maintain its position of resolving the matter through dialogue and has decided against pursuing international legal action to settle the 16-year-old dispute.

Officials said the discussions with Etisalat are part of broader efforts to strengthen economic ties with the United Arab Emirates and bring closure to the PTCL privatisation dispute.