Issue of $800 Million Pending Dues From Etisalat to be Resolved by November: Secretary Privatization

Ministry of Privatization Secretary Jawad Paul told the Senate Committee on Privatization on Friday that the issue of pending receivables amounting to $800 million from e& (Etisalat) will be resolved by October-November. The secretary said the Privatization Division prefers dialogue over any lengthy litigation to pursue the case which has persisted for years after the company purchased a management stake in PTCL. The committee participants also urged to expedite privatization of loss-making state-owned enterprises (SOEs) to revive the economy and prevent such losses in the future. The panel directed the Privatization Commission to submit a 5-year action plan on privatization and a detailed report on losses incurred by SOEs. The committee was briefed that the Privatization Commission has hired a technical consultant for privatizing electricity distribution companies. The consultant will share a definitive plan by September 2024.