Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Pakistan seeks UAE government's help on etisalat payment  Join our daily free Newsletter

MENAFN - Khaleej Times - 06/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Pakistan seeks the UAE government's help to resolve the long-pending 800 million payment issue with etisalat over acquiring a 26 per cent stake in PTCL with management control in 2005.



Pakistan's Minister for Finance, Economic Affairs, Revenue and Statistics Senator Muhammad Ishaq Dar raised the issue during a meeting with the UAE's Minister of State for Foreign Affairs Dr Anwar Mohammed Gargash in Abu Dhabi on Tuesday



Dar, who is in the UAE to attend the International Monetary Fund's review meeting for Pakistan's economy, sought the UAE government's assistance in facilitating the release of funds held by etisalat over handing over of PTCL properties to the company. He expressed the hope that the UAE government would intervene to help resolve the issue



Dr Gargash assured the Pakistani finance minister to take up the matter with the UAE leadership



An etisalat consortium bought a 26 per cent stake in PTCL with management control for 2.6 billion in 2005. The telecom firm still holds about 800 million payment until its affiliate [PTCL] gets ownership of all 'disputed properties'



According to sources, out of 131 'disputed properties', about 52 have already been transferred while another 56 have been cleared for hand over to PTCL



"About 23 properties are involved in litigation and not transferable until they get cleared from courts," sources said



Etisalat did not respond to requests for comment



During the meeting with Dr Gargash, Dar also proposed that the UAE may consider relaxation in terms of payment of crude oil purchases by Pakistan from the UAE's largest oil company Adnoc



Dr Gargash appreciated the pro-business policies of the present government of Pakistan. He assured that the UAE government would extend support to Pakistan to attract foreign investment



"Pakistan needs to increase business outreach not only to the public sector, but also to the private sector. A number of UAE nationals intend to go to Pakistan for investment because they are familiar with the country and its people," he said



Dar also met Shaikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and the UAE Minister of Finance and Industry, and discussed matters of bilateral interests



Dar apprised Shaikh Hamdan that Pakistan's economy has been put on track through enforcement of financial discipline. He said the present government believes in market economy and facilitation of businesses to enhance economic growth



"Prospects of natural gas in Pakistan are bright, therefore, the government is incentivizing oil and gas exploration to overcome energy shortages by tapping internal resources," he said



Shaikh Hamdan assured that his government would extend all possible cooperation for economic development of Pakistan. He also appreciated the invaluable contributions of the expatriate Pakistani community in the development of the UAE

 






  MENA News Headlines
 Aug 22 2014 - The Diabetes Protocol ReviewDoes Dr. Kenneth Pullmans Program WorkMENAFN Press
(MENAFN Press) Read Dr. Kenneth Pullman's Diabetes Protocol review and find out if it really treats diabetes and promotes a healthier lifestyle. A 100% natural treatment With no use of drugs and ...

 Aug 22 2014 - Truth About Dentists ReviewDOES IT REALLY WORKMENAFN Press
(MENAFN Press) What is Truth About Dentists program? Can you really get rid of expensive dentists? Read Truth About Dentists review and find out. The program can help create an extremely impressive ...

 Aug 22 2014 - Scottsdale Accident Lawyer Weighs in on Child Sports InjuryMENAFN Press
(MENAFN Press) Scottsdale Accident LawyerWith at least 20 million children involved in organized sports activities injuries are very likely to occur. What legal options do parents have in cases of ...

 Aug 22 2014 - The bac rac Outstanding Innovation in Back Pain Relief raises 15k on KickstarterMENAFN Press
(MENAFN Press) bac rac the outstanding innovation in back pain relief has successfully raised 100% of its funding target in just over 2 weeks on Kickstarter the crowd funding website.bac rac has ...

 Aug 22 2014 - San Diego Segway Tours by Wheel Fun Rentals Offers 50% Discount to End the Summer SeasonMENAFN Press
(MENAFN Press) To celebrate the end of a wonderful summer season and the start of a new school year San Diego Segway Tours by Wheel Fun Rentals is offering a 50 percent off coupon to anyone who ...

 Aug 22 2014 - Ortho Back-Up Launches a New Episode on their Weekly Tips to Prevent Back PainMENAFN Press
(MENAFN Press) Ortho Back-Up has launched a new episode on their Weekly Tips to Prevent Back Pain. The upcoming 6th episode is entitled Stretches for Your Back. This new episode is sure to give ...

 Aug 22 2014 - MrQuickPick Launches RideShare Partner ProgramMENAFN Press
(MENAFN Press) MrQuickPick the multiple award winning national car unlocking service has announced the commencement of their Partner Program that enables qualified Lyft and Uber drivers to offer ...

 Aug 22 2014 - Saudi - Agriculture sector advances 1.3Arab News
(MENAFN - Arab News) The Saudi stock market continued its positive movement and managed a fourth straight rise on Wednesday accumulating more than 56 points.The Tadawul All-Share Index (TASI) set out ...

 Aug 22 2014 - 20 Most Popular Family Cruise ShipsConsumer Reviews Reveal Most Popular Cruise ShipsMENAFN Press
(MENAFN Press) Built in 2009 the Oasis of the Seas and her sister ship the Allure of the Seas are the largest cruise ships afloat. At a cost of $1.4 billion apiece these floating palaces weigh about ...

 Aug 22 2014 - Hollande: France armed Syrian rebels 'a few months ago'Arab News
(MENAFN - Arab News) SAINT-PIERRE France: President Francois Hollande said on Thursday that France had delivered weapons to rebels battling the Syrian regime of Bashar Assad 'a few months ago.'The ...

more...


 






Google

menafn.com

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help