Pakistan likely to get $800 millions pending arrears

Pakistan likely to get $800 millions pending arrears

ISLAMABAD - Pakistan is likely to get $800 million arrears from the Etisalat.

The Senate Standing Committee on Information Technology and Communications was apprised on Wednesday by Minister for Information Technology (IT) Khalid Maqbool Siddiqui headway was anticipated in the retrieval of $800 million from Etisalat.

In 2005, Etisalat had acquired 26% share of Pakistan Telecommunication Company Limited (PTCL) for $2.6 billion and $800 million payment has remained pending to the government on account of non-transference of properties and other disputes since 2008.

Mr Siddiqui was answering the queries from the members of the Senate committee regarding non-payment of increase in pensions to over 40,000 ex-PTCL employees since 2010.