|
|
|
|
|
The privatisation process of Pakistan Telecommunication Company Limited
(PTCL) is being completed timely. Dr. Abdul Hafeez Shaikh Federal Minister
for Privatisation & Investment stated this while addressing Investors Forum
here today.
He said that it was the government's endeavor to complete the process in a
most transparent manner as per schedule and up to the satisfaction of all
stakeholders including the prospective bidders, consumers and the workers.
The Privatisation Commission held an Investors Forum to respond to the queries
of the potential bidders and to inform them about the bidding process for
acquiring 26 % shares of Pakistan Telecommunication Company Limited (PTCL)
with management control as a wholly integrated telecom operator here today.
Pakistan Telecommunication Company Limited (PTCL).
The meeting was participated by the well prepared authorized representatives
of eight pre- qualified potential bidders who have completed due diligence of
the transaction in the data room. Mr. M. Tahsin Khan Iqbal, Secretary
Privatisation Commission, PTCL management and the Financial Advisor responded
to the inquiries made by the participants in a detailed Question & Answer
session.
Later, replying to a group of media men, Mr. M. Tahsin Khan Iqbal Secretary
Privatisation Commission said that the employees enjoyed the right to protest,
however, it would not affect the process.
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.