PTCL property issues

[Lahore_Real_Estate]

Cabinet body on LDI, 3G spectrum licences

Staff Report

ISLAMABAD: Cabinet’s Ministerial Committee Tuesday decided to meet again on September 30 (Thursday) to finalise a report on the dispute with M/s Etisalat on transfer of properties for submission to the Federal Cabinet.
The first round of the Cabinet’s Ministerial Committee meeting constituted by the Federal Cabinet for examining the matters concerning the Share Purchase Agreement on Pakistan Telecommunication Company Limited (PTCL) with M/s Etisalat and auction of 3G Spectrum and LDI licenses held here. Senator Waqar Ahmed Khan Federal Minister for Privatisation who is the convener of the Committee presided over the meeting.
The Ministry of Information Technology deliberated on the issues of 3G Spectrum and LDI licenses and discussed the matter pertaining to PTCL’s real estate issue. The Committee observed that the PTCL transaction was still open and the government intended to close the transaction amicably while resolving the issue pertaining to outstanding amount of $800 million.
The Committee was informed that the government has tried its best endeavors to assist PTCL to settle property issue. The President and the Prime Minister have already directed the Privatisation Commission (PC) to amicably resolve the issue at the earliest, Senator Waqar Ahmed Khan Federal Minister for Privatisation informed the meeting.
The Committee will meet again on Thursday September 30, 2010 to finalise a report in this regard for submission to the Federal Cabinet. Senator Sardar Latif Khosa Special Advisor to the Prime Minister on Information Technology, senior officials of Ministries of Finance, I.T and PC attended the meeting.