In a significant development for Pakistan’s telecom sector, Pakistan and Etisalat have agreed to finally settle their long-running dispute regarding the Pakistan Telecommunication Company Limited (PTCL).
On his crucial official visit to Dubai, Deputy Prime Minister and Foreign Minister Senator Ishaq Dar met with Etisalat Chairman Jassem Mohammed Bu Ataba Al Zaabi on Saturday, January 24, 2026. Both leaders held detailed talks and agreed to expeditiously resolve outstanding matters.
The dispute stems from the privatisation of PTCL in 2005. At that time, Etisalat acquired a 26% stake in the company. However, the UAE-based telecom giant withheld a final payment of approximately $800 million.
Etisalat cited delays in the transfer of properties included in the deal as the reason for non-payment. Pakistan has historically disputed this position. Recently, the issue resurfaced as Pakistan seeks to revive investor confidence and stabilise its finances under an IMF-backed program.
During the meeting, Ishaq Dar and Al Zaabi exchanged perspectives on these operations. Consequently, both sides committed to prompt settlements and close collaboration to move forward.
Beyond the dispute, the meeting focused on future growth. Etisalat (e&) plans to expand its footprint in Pakistan through its flagship stake in PTCL.
Discussions also explored broader economic opportunities. The leaders reviewed Pakistan-UAE trade cooperation and identified new avenues for joint ventures. Abu Dhabi has provided critical financial support to Islamabad in recent years through deposits and loans. Ishaq Dar said:
The Government of Pakistan is committed to facilitating investment by the private sector and partner countries.
The talks were described as cordial and constructive. Both sides reaffirmed directives from their respective leaderships to strengthen economic ties.
The Deputy Prime Minister Ishaq Dar emphasised the need to build on historic goodwill. In response, H.E. Jassem Mohammed Bu Ataba Al Zaabi expressed full agreement and a strong commitment to advancing these shared objectives.
Key officials assisted the leaders during the talks. The Pakistani delegation included Ambassador Shafqat Ali Khan, Trade Counsellor Ali Zeb, and Acting Consul General Fawad Ali Khan. Mr Masood Mohamed Shariff, CEO of Etisalat UAE, assisted the Chairman.