Monday, July 15, 2024

Pakistan to Propose State-owned companies Stakes to UAE

During this week’s visit to the United Arab Emirates (UAE), Prime Minister Shehbaz Sharif will prioritize the request to roll over the maturing $2 billion debt because the idea to provide 10-12% ownership in publicly traded government firms is still in its early stages of development.

According to government sources, on Tuesday, a coordination committee established to make preparations for the premier’s visit reviewed the list of organizations that could be offered to the UAE for investment, including Pakistan Telecommunication Limited (PTCL).

However, almost all choices were postponed for the PM’s assessment, including PTCL, because there is still a disagreement over $800 million from the last privatisation.

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