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The Privatisation Commission has scheduled the bidding of Pakistan
Telecommunication Company Limited (PTCL) for acquiring 26 % shares of Pakistan
Telecommunication Company Limited (PTCL) with management control as a wholly
integrated telecom operator on June 10, 2005 (Friday). An Investors Forum is
also scheduled on Wednesday May 25, 2005 to respond to the queries of the
potential bidders and to inform them about the bidding process. PC has
received requests from several bidders to extend the bidding date for PTCL as
it was felt that more time was needed by bidders in order to go through their
internal approval process prior to bidding. PC has, therefore, issued the new
timetable after taking cognizance of the legitimate request from the bidders
for an extension.
PTCL is the leading provider of basic telephone services to the private sector
in Pakistan with over 4.4 million telephone lines in service. Besides
providing fixed line and ancillary services, PTCL owns Pakistan
Telecommunication Mobile Limited, one of five GSM cellular providers in
Pakistan and Paknet a countrywide Internet service provider. Its strong
financial position demonstrated during FY 2004 excluding subsidiaries as per
unconsolidated financials of PTCL indicates: Revenue PKR 74,124 million,
Operating profit: PKR: 41938 million, Net Profit after Tax: PKR:29,169
million, Total Assets: PKR: 141,595 million, Total Equity: PKR: 83,600
million, with a network of installed 5.27 million lines and 4.43 million
access lines in service.