According to sources, Etisalat has even rejected an offer from Pakistan government to pay $600 million, against a waiver of remaining $200 million. Instead Etisalat hinted at releasing money against getting more PTCL shares.
For the purpose a secret mission, led by Interior Minister Rehman Malik, was recently sent to convince UAE rulers to use their influence on the company and get the withheld amount released.
The privatization ministry made a mistake by committing that the government would transfer over 3,200 properties of PTCL to Etisalat, which hasn’t happened so far.
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