UAE Telecom Giant
In a development that has drawn attention in financial circles, UAE-based telecom major e& is reportedly reassessing its exposure to Pakistan’s telecom sector. According to a report by Dawn, the review could lead to a reconsideration of its stake in Pakistan Telecommunication Company Limited, though no final decision has been made so far.
Sources familiar with the matter clarified that the process is still at an early stage. The move is part of a broader portfolio optimisation strategy being undertaken by Gulf-based investors across various global markets, rather than a Pakistan-specific concern.
Insiders noted that this reassessment reflects changing global economic conditions, geopolitical shifts, and evolving investment priorities among sovereign-backed entities in the Gulf region. The review is said to involve multiple international assets, with Pakistan being just one part of a larger evaluation.
Officials emphasized that the ongoing review should not be interpreted as an immediate exit or withdrawal. “This is part of a wider internal exercise across several markets and does not indicate any immediate divestment,” a source explained.
When contacted, PTCL stated that it has not received any indication of a change in shareholder plans. The company reiterated that its long-term strategy has already been approved by both its board and shareholders, signaling business continuity.
PTCL remains one of Pakistan’s key state-linked enterprises. The government and its associated entities hold around 62% ownership, while e& owns a 26% stake along with management control under a privatization agreement signed in 2005. The remaining shares are held by public investors via the Pakistan Stock Exchange.
In recent years, PTCL has faced financial challenges, but its acquisition of Telenor Pakistan has helped improve its market standing and performance.
The report also highlights a broader shift in Gulf investment trends, as countries rebalance their portfolios amid global financial uncertainties. Pakistani officials remain confident that continued investments from other Gulf Cooperation Council nations will help maintain economic stability.
Diplomatic and financial sources have underlined that economic ties between Pakistan and the United Arab Emirates remain strong. They stress that such reviews are a normal part of global investment management and do not signal any weakening of bilateral relations.
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