Pakistan considers arbitration over $800M unpaid PTCL sale funds
- Reports
- 2
- Developments
- 1
- Repetition
- 50%
New informationRepeats or wire copies
What happened
Pakistan is considering international arbitration against Etisalat, a UAE-based telecommunications company, regarding an outstanding payment of USD 800 million from the sale of Pakistan Telecommunication Company Limited (PTCL). The claim also includes opportunity cost since 2008 and applicable damages. The issue was discussed at a joint meeting of Senate standing committees on information technology and privatization.
From dailyexcelsior.com
Why it matters
The dispute concerns the sale of 26 per cent of PTCL shares, which was overseen by the Ministry of Privatisation. The potential recovery of the USD 800 million payment could improve national revenue and financial stability for Pakistan. Senators at the meeting expressed surprise that they were not given access to the sale purchase agreement.
From dailyexcelsior.com
Who's involved
- PakistanSovereign state initiating the arbitration over the unpaid sale funds.
- Ministry of PrivatisationGovernment ministry that formally oversaw the divestment of PTCL shares.
- PTCLPakistani telecommunications company whose shares were sold in the disputed transaction.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- PTCLSpeculative
PTCL might see its operational costs affected by the ongoing debt dispute over its sale proceeds.
Keep exploring
The entities involved
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PTCL
Pakistani telecommunication company
Nothing else this week.
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Pakistan
sovereign state in South Asia
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Ministry of Privatisation
Pakistan government's ministry
Nothing else this week.