Pakistan Assured of Stability Amid Etisalat’s Telecom Sector Review
A news story published in Dawn on April 30, 2026, claimed that a leading Middle Eastern business group, widely understood to be Etisalat, is reviewing its exposure to Pakistan’s telecom sector, potentially considering an exit from Pakistan Telecommunication Company Limited. However, sources indicate the process is still at a preliminary stage, with no final decision made. The review is said to be part of a broader portfolio optimisation strategy influenced by global economic uncertainty and regional geopolitical dynamics.
Officials emphasized that the review is not specific to Pakistan but part of a wider reassessment by Gulf investors across multiple markets. Neither Etisalat nor Pakistani authorities have issued official confirmation. Meanwhile, PTCL stated it is unaware of any shareholder plans for changes, noting that its long-term business strategy has recently been approved.
PTCL remains a strategically important entity for Pakistan, with the government retaining around 62% ownership, while Etisalat holds 26% shares and management control. The company has faced financial challenges in recent years but recently returned to profitability following its acquisition of Telenor Pakistan. The remaining 12% shares are held by private investors through the Pakistan Stock Exchange.
Officials say that even if UAE stakeholders adjust their investments, Pakistan has alternative financial backing from Gulf partners such as Saudi Arabia and Qatar. The review is seen as part of broader global investment shifts, focusing on capital efficiency and risk-adjusted returns rather than country-specific concerns. Diplomatic sources maintain that Pakistan-UAE economic ties remain stable despite ongoing evaluations.
