PTCL rejects Etisalat exit claims, flags “speculative” reporting

Pakistan Telecommunication Company Limited on Thursday dismissed media reports suggesting that its majority shareholder, Etisalat, was reviewing its exposure to Pakistan’s telecom sector, saying the claims were “baseless and speculative”.

In a statement, the company said it was not aware of the sources cited in such reports and stressed that, as a listed entity, inaccurate information could trigger unwarranted market speculation.

“PTCL’s shareholders remain fully committed to the company’s long-term strategy and growth trajectory,” it said, pointing to ongoing expansion initiatives across its business.

The company highlighted key developments including the acquisition of Telenor Pakistan and Orion Towers, alongside network growth through fibre rollout and Ufone’s participation in 5G spectrum acquisition.

The denial comes as Pakistan continues efforts to resolve a long-running dispute linked to PTCL’s privatisation.

In 2006, the government sold a 26% stake along with management control of PTCL to Etisalat International Pakistan for $2.6 billion. However, around $799 million of the payment remains withheld due to unresolved issues over property transfers.

In January 2026, Deputy Prime Minister and Foreign Minister Ishaq Dar visited Dubai for talks with Etisalat management, seeking a settlement of the outstanding matter.

Separately, Transparency International Pakistan earlier urged the Adviser to the Prime Minister on Privatisation to direct the Pakistan Telecommunication Authority to recover pending dues from Etisalat.

PTCL maintained that its operational direction and shareholder backing remain unchanged despite the reports.