Deputy Prime Minister and Foreign Minister Ishaq Dar has arrived in Dubai to hold talks with UAE telecom giant Etisalat to resolve a long-standing dispute over nearly $799 million related to the stalled privatisation of Pakistan Telecommunication Company Limited. The visit, confirmed by Pakistan’s Foreign Office, aims to break a deadlock that has persisted for more than 16 years after Etisalat withheld a significant portion of payments under the PTCL privatisation agreement.
Ishaq Dar arrived in Dubai from Davos, Switzerland, and is scheduled to meet with Etisalat’s senior management to discuss the issue. No details have been shared regarding meetings with UAE ministers or other government officials. The dispute dates back to 2006, when Pakistan sold a 26 percent stake in PTCL along with management control to Etisalat International Pakistan for $2.6 billion. Etisalat withheld approximately $800 million, citing Pakistan’s failure to transfer all properties included in the privatisation deal.
Under the original agreement, 3,384 PTCL properties were to be handed over to Etisalat. Officials later confirmed that only 3,248 properties existed on the ground, while 38 properties could not be transferred, leaving a gap that has remained unresolved. Despite multiple negotiations over the years, the matter has continued without resolution. Reports in 2025 indicated in-camera talks aimed at settling the dispute without escalating to international litigation. Pakistan has preferred a negotiated settlement rather than pursuing legal action, seeking to close the 16-year-old issue through diplomacy.
Dar’s visit is also seen in a broader regional context, as it coincides with sensitive developments in the Middle East, including Pakistan, the UAE, and other countries joining Gaza’s Board of Peace at the invitation of US President Donald Trump and reports of emerging tensions between Saudi Arabia and the UAE. Officials note that resolving the PTCL-Etisalat dispute is part of a larger strategy to strengthen economic relations with the UAE, enhance investor confidence, and unlock stalled foreign investment by addressing legacy issues that continue to affect Pakistan’s business environment.
