Friday, April 19, 2024

Captain Muhammad Mahmood (Retd) Appointed PTCL Chairman

The recent appointment of Captain Muhammad Mahmood (retd) as the new chairman of Pakistan Telecommunication Company Limited (PTCL) marks a significant leadership change within the company. This transition comes as PTCL reports a notable 15.4% growth in revenue, indicating a positive trajectory for the company under its new leadership. The growth in revenue is attributed to strong performances in both the retail and business segments, showcasing PTCL’s resilience and adaptability in a competitive market landscape.

Furthermore, the subsidiary companies of PTCL, namely Ufone and U Microfinance Bank, have also contributed significantly to the company’s overall performance. Ufone achieved an impressive 25.6% growth in revenue, while U Microfinance Bank witnessed a remarkable 76.5% revenue growth in 2023. These growth figures underscore PTCL’s diversified portfolio and its ability to capitalize on opportunities across various sectors within the telecommunications industry.

However, amidst these positive developments, PTCL’s proposed acquisition of 100% shareholding in Telenor Pakistan and Orion Towers Private Limited stands as a crucial point of interest. The Competition Commission of Pakistan (CCP) is awaiting vital information from PTCL regarding this proposed acquisition, highlighting the importance of regulatory compliance and transparency in such strategic moves within the telecom sector.

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