Financial Express print this

Pakistan-UAE telecom talks making progress


DUBAI, Nov 8 (Reuters): Talks in the United Arab Emirates to rescue Pakistan's flagship $2.6 billion telecoms privatisation are making progress and an announcement could come today, a diplomatic source told the news agency.
Pakistan's privatisation minister left for the UAE Monday to discuss the deal which ran into trouble when Emirates Telecommunications (Etisalat) did not meet the payment deadline for a 26 per cent stake in Pakistan Telecommunication Co Ltd (PTCL).
It was Minister Abdul Hafeez Shaikh's second trip to the UAE since the Oct 28 deadline expired and a diplomatic source close to the talks said an announcement was expected later Tuesday.