Federal government likely to receive $2 billion from these two projects
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ISLAMABAD - PTI Government is likely to get $2 billion from the pending arrears of PTCL sale and renewal of the telecom sector licences.
The government is expecting up to $2 billion in inflows through likely resolution of government-Etisalat (PTCL privatization) dispute and renewal of cellular licenses in the current fiscal year 2018-19.
According to official documents, the government has constituted an Inter-Ministerial Committee.
The committee was to deliberate and resolve the issues of renewal of cellular licenses and PTCL’s privatization issue, and to devise a mechanism for all outstanding matters including payment of “outstanding” $800 million after a high-level agreement was reached with a UAE delegation. Rationalization of $800 million deal is expected to yield around one billion rupees to PTCL annually.
In response to a query about the agreement with Dubai-based Etisalat, Finance Minister Asad Umar replied, “agreement is still being discussed”. The Federal Minister for Information Technology and Telecommunication Dr Khalid Maqbool Siddiqui said the government is expecting a major breakthrough with Etisalat to resolve the much-awaited $800 million outstanding “dues” on account of privatization of PTCL.