Finance Minister Senator Ishaq Dar Friday directed the Privatisation Commission to resolve the disputes involved in the transfer of properties pertaining to PTCL and remove all hurdles within 10 days so that this long-standing issue could be brought to an early end.
This direction was given by Finance Minister when a three-member Etisalat/PTCL delegation comprising Walid Irshaid, President/CEO-PTCL, Jamal Jarwan, CEO-Asia-Etisalat and Abdul Rahim Nooryani, Chairman Etisalat Pakistan paid a courtesy call on him Friday. Abdul Rahim Nooryani, Chairman Etisalat Pakistan said that they have come with full confidence that transparency, merit and sincerity would be the hallmarks of this government.
Dar raised the issue of receivables of $800 million from Etisalat and apprised the delegation that this government felt that the issue should be resolved in the spirit of brotherly relations that exist between Pakistan and UAE. He told the delegation that the present financial situation in Pakistan demanded an early settlement of this long-standing issue so that this receivable can ease the foreign exchange situation of Pakistan.
Dar said that we want a fair, transparent and equitable resolution based on established commercial rules as this was a commercial transaction. The delegation said that the last seven years they have been making serious efforts to get the titles of the 131 properties transferred after which the outstanding payments due towards Pakistan could be paid. Unfortunately the issue of properties remains unresolved up-till now. Dar impressed upon the delegation that issues pertaining to properties would be resolved and he will take personal interest in the matter.
He informed the delegation that the government has recently concluded agreement with IMF, settled outstanding dues of private power producers and he has made a commitment on the floor of the National Assembly to bring an early resolution for the receivables from Etisalat. Dar said "we are confident that we will steer the country out of the present financial situation and microeconomic imbalances by embanking on a policy of zero tolerance for corruption and transparency in all our transactions." He said that we will resolve this issue with Etisalat and "where there is a will there is a way." We need some out of the box thinking on fast track basis. The Etisalat delegation assured the Finance Minister that they see Pakistan as a country ripe with opportunities and would go back and report the feelings of government of Pakistan.-PR
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