Pakistan Telecommunication Company Limited (PTCL) has dismissed reports suggesting that the United Arab Emirates-based telecom giant e&, formerly known as Etisalat, plans to exit the Pakistani market.
The company issued a formal statement on Thursday, labeling the claims as “baseless and speculative” after news emerged regarding a potential review of the group’s investment in the country.
The denial follows a report which claimed that e& was in the early stages of a portfolio optimization exercise that could result in a withdrawal from Pakistan’s telecom sector.
Addressing the matter during a webinar, PTCL Chief Executive Officer Hatem Bamatraf clarified that there has been no conversation regarding such a move.
Bamatraf emphasized the management remains focused on the company’s current business plan. “We are in close coordination about the strategy, the budget, the business plan, the performance of the company,” he said.
The speculation surfaced during a period of significant activity for the company. PTCL recently moved forward with the acquisition of Telenor Pakistan and Orion Towers, while its subsidiary Ufone acquired 5G spectrum.
The board recently reviewed performance for the first quarter of 2026, maintaining the current growth trajectory and fiber network expansion.
Despite the current strategic initiatives, a long-standing financial dispute remains between the government and the UAE-based group.
Since the 2005 privatization deal, where Etisalat acquired a 26 percent stake for $2.6 billion, approximately $800 million has been withheld.
The group cites delays in the transfer of properties included in the original agreement as the reason for the non-payment, a position the Pakistani government continues to dispute.
Economic ties between the two nations have seen significant movement recently.
In January, Deputy Prime Minister Ishaq Dar held talks with Etisalat officials regarding the PTCL stake and other investment opportunities.
