ISLAMABAD: Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar held talks with Etisalat chairman Jassem Mohammed Bu Ataba Al Zaabi on investment opportunities, including the UAE-based telecom group’s stake in Pakistan Telecommunication Company Limited (PTCL), the foreign ministry said on Saturday.
The meeting took place during Dar’s official visit to the United Arab Emirates, where he met senior Emirati officials and business leaders following his participation in the World Economic Forum in Davos.
According to the foreign ministry, discussions focused on Pakistan-UAE trade and economic cooperation, prospects for expanding investment, and Etisalat’s ongoing engagement in Pakistan through its shareholding in PTCL.
Etisalat acquired a 26 percent stake in PTCL in 2005 as part of Pakistan’s privatization drive. However, a long-running dispute emerged over the transfer of certain properties included in the deal, leading the company to withhold a final payment of approximately $800 million, a claim contested by Pakistani authorities.
The issue has gained renewed attention in recent years as Islamabad seeks to advance privatization efforts, attract foreign investment, and support economic stability under reforms backed by the International Monetary Fund.
Dar reaffirmed Pakistan’s commitment to facilitating private sector investment and strengthening economic cooperation with partner countries, including the United Arab Emirates, the ministry said.
Pakistan and the UAE maintain close political and economic relations, with Abu Dhabi playing a key role in providing financial support to Islamabad through deposits, loans, and investment initiatives during Pakistan’s ongoing economic recovery.
