ISLAMABAD: Etisalat Exit from Pakistan rumors triggered market speculation, but PTCL has firmly denied the reports, calling them baseless and misleading. The company clarified that e& remains committed to long-term investment in Pakistan’s telecom sector.
Speculation and Reports Labeled as Baseless
In a direct statement to the press, a spokesman for PTCL refuted all allegations regarding any change in the investment strategy of e&. He argued that such allegations were without factual foundation and did not accurately depict the views or intentions of the company’s shareholders. PTCL emphasized that publishing unfounded speculations on the decisions of a corporation regarding investments would have serious ramifications.
Denial is particularly unfortunate at this point in time when the telecommunications industry in Pakistan needs all the investor confidence it can muster to develop and improve services in the country.
Commitment of Shareholders
PTCL seized the opportunity to emphasize the solid relationship it enjoys with all its shareholders. PTCL was keen to stress that the commitment to its long-term strategy of development on the part of all its shareholders is still complete, without the least hint of any change in the direction of its investments. It was stressed that this commitment goes beyond mere words as it involves several significant strategic initiatives being undertaken.
e&, which owns a majority interest in PTCL as the managing shareholder has continued to actively influence the strategic orientation of the company. E& is still fully involved in crafting the strategy for PTCL, which runs counter to what is written in the media reports.
Three Important Programs Illustrate a Long-Term View
According to PTCL, there were three particular programs that clearly illustrated the long-term dedication of the company’s stockholders to Pakistan. The first program was the purchase of Telenor Pakistan, which marked a huge step for the company, allowing it to acquire a large number of new customers. In order to complete such an acquisition, it would take many years of effort and funding, which would not be the case if the stockholder were preparing to leave.
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5G and Fiber Plans Show No Etisalat Exit from Pakistan
The upgrading of mobile networks to the fifth generation in Pakistan is undoubtedly one of the most capital-intensive initiatives in the history of telecommunications in Pakistan. It is worth noting that PTCL plays an active role in 5G spectrum investments.
The third pillar is the construction of fiber networks on a national scale.PTCL is extending the coverage of fiber optic services to residential and commercial users across Pakistan, allowing both residential and commercial consumers to access high-speed broadband internet services in areas where internet services were unavailable previously. Building fiber infrastructure requires constant involvement and presence, which shows the long-term dedication of a company and its shareholders.
PTCL Restates Its Commitment to Stakeholders
In summary, PTCL restated its fundamental promise of value creation for all stakeholders. According to the organization, it continues to give its highest priority to its customers by ensuring connectivity for them, helps its business partners through infrastructure development, and guarantees that its shareholders earn from its activities.
PTCL stands as Pakistan’s largest integrated telecommunications operator. Its outright rejection of the claims made in the exit reports of e& and the clear expression of its strategic plans sends a definite message to the market that PTCL, along with its stakeholders, will not be retreating but advancing.
