(MENAFN) Pakistan said that progress is being made on the USD800 million outstanding from etisalat relating to its purchase of a 26 percent stake in Pakistan Telecommunication Corporation Limited (PTCL).
The UAE telecom operator purchased a stake in the Pakistani firm in 2005 for USD2.6 billion and paid USD1.8 billion as per the deal terms, which also included transferring ownership of properties to PTCL from the government.
Parliamentary Secretary for Finance told the National Assembly during a question-and-answer session that progress is being made and talks are continuing to resolve the prolonged dispute.
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