Pakistan and Etisalat agreed on January 24, 2026, to work jointly toward resolving long-standing matters involving Pakistan Telecommunication Company Limited (PTCL). Pakistan’s Foreign Ministry announced the commitment after a meeting in Dubai, but did not say that a settlement had been signed, completed, or paid. The distinction matters: the announcement describes a path toward resolution, not a concluded deal.
What Pakistan and Etisalat agreed to
Pakistan Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar met Jassem Mohammed Bu Ataba Al Zaabi in Dubai on January 24, 2026. According to Pakistan’s Ministry of Foreign Affairs, discussions covered long-standing PTCL operational issues, the company’s future growth, and Etisalat’s continuing investment and plans to expand its footprint through its PTCL stake.
The ministry said, “Both sides agreed to pursue joint efforts to expeditiously resolve outstanding matters and to actively promote initiatives that expand economic and trade cooperation, fully aligned with the guidance of their respective leaderships.” That is an agreement to pursue resolution. The statement gives no settlement terms, payment date, final amount, or confirmation that the dispute has been resolved.
How the PTCL dispute began
The disagreement is connected to PTCL’s 2005 privatization. A Senate written answer records that Etisalat acquired a 26% stake and management control for US$2,598,960,000. It lists US$1,799,653,313.31 as paid and US$799,306,686.62 as outstanding. These are figures in that parliamentary answer, whose publication date is not established in the record; they should not be treated as a current audited balance.
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The same answer says Etisalat International Pakistan delayed further payments because, in its stated position, properties included in the Share Purchase Agreement had not all been transferred into PTCL’s name. It says the Privatization Commission was pursuing the transfers and some remained pending because of legal impediments. This records Etisalat’s explanation; it is not an agreed finding assigning contractual responsibility. The figures and explanation appear in the Senate of Pakistan written answer.
What later government records said
January 2025: committee reports remaining payment issues
On January 2, 2025, the National Assembly IT and Telecommunication Standing Committee said Etisalat had yet to make 33% of its payments, despite the government transferring property titles. It also reported that a special committee led by the Finance Minister had been formed to address the matter. This is the committee’s account at that date; its percentage is not directly interchangeable with the older Senate answer’s dollar figures. See the National Assembly committee release.
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FY 2025–26: negotiations remained a planning objective
The Finance Division’s FY 2025–26 budget performance document listed negotiation with Etisalat to settle pending payments related to PTCL’s privatization, along with resolution of the issues, as planned work. A planning document shows that negotiation was an objective; by itself, it does not establish the status of the matter at every later date. The item appears in the Finance Division budget performance document.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to read the reported US$799 million figure
Business Recorder described the January 2026 talks in the context of approximately US$799 million withheld in connection with the privatization and property transfers. That is a secondary report’s description, not an amount published in the Foreign Ministry’s announcement. The Senate answer’s US$799,306,686.62 figure is a historical parliamentary record, not confirmation of the amount currently owed. Business Recorder’s report is available at this report.
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What is—and is not—confirmed
- Confirmed: Pakistan and Etisalat publicly committed in January 2026 to pursue joint efforts to resolve outstanding PTCL matters.
- Not announced by the Foreign Ministry: a signed settlement, a final payment, settlement terms, a definitive amount, or a timetable.
- Background: historical parliamentary records link the dispute to unpaid privatization proceeds and property transfers, while later parliamentary and budget records show the issue remained a subject of government attention at their respective dates.
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