Pakistan keeps mum on $800m owed by UAE’s Etisalat

Etisalathqe-1465268894-557-640x480news5454sf54fs45ISLAMABAD: The $800 million in arrears from the privatisation of Pakistan Telecommunication Limited are not mentioned in 2016-17 budget books, suggesting the government may have foregone the debt in favour of the Dubai-based buyer.

The explanatory memorandum on the federal receipts book for the next fiscal 2016-17 is silent on the outstanding proceeds owed by Etisalat to Pakistan for buying 26% stakes in PTCL for several years now.