Today, on April 30, 2026, a report claimed that the Emirati telecom giant Etisalat (e&) is reviewing its investments in Pakistan. However, internal sources confirm this story is entirely baseless. The UAE-based group is definitely not exiting the Pakistani telecom market.
According to the report, the leading Middle Eastern business group, Etisalat (e&), has allegedly started reviewing its exposure to Pakistan’s telecom sector. This assessment could potentially lead to an exit from the Pakistan Telecommunication Company Ltd (PTCL). Sources claimed the review stems from global macroeconomic uncertainty and regional geopolitical tensions.
Furthermore, evolving capital allocation strategies among sovereign-linked investors reportedly drove this potential move. This supposed strategy aligns with the UAE’s recent decision to quit the OPEC bloc.
Despite these heavy claims, the exit narrative lacks a factual foundation. Internal sources from e& and PTCL clearly state that the telecom group is not leaving Pakistan. Consequently, an official statement from the company is expected to arrive soon to publicly refute these rumors.
Meanwhile, PTCL explicitly stated it is completely unaware of any changes in shareholder plans. In fact, the company’s board and shareholders recently approved its long-term business plan.
The e& group holds a significant footprint in Pakistan. Currently, the Pakistani government holds a 62% stake in PTCL. The Gulf telecom giant holds a 26% share along with direct management control. Private investors hold the remaining 12% through the Pakistan Stock Exchange.
Recently, PTCL finally turned a profit. This positive financial shift directly followed its major acquisition of Telenor Pakistan. Previously, the company faced continuous losses for a couple of years. Historically, the e& group acquired its stake in 2005 with a $2.6 billion bid. However, the group held back $800 million because the government failed to transfer all privatized properties to the entity.
