Deputy PM Dar meets Etisalat CEO, invites company to invest more in Pakistan’s telecom sector

Deputy Prime Minister and Foreign Minister Ishaq Dar on Tuesday met the chief executive of United Arab Emirates (UAE)‘s e& group, formerly known as Etisalat, and invited the company to invest more in the country’s telecom sector.

PTCL’s management is with ‘e&’, which has 26 per cent of the shares. The largest shareholding of 62pc is with the Government of Pakistan and the remaining 12pc has been floated through the PSX.

According to a press release by the deputy PM’s office, the minister held a meeting with Chief Executive Khalifa Al Shamsi and Chief Operations Officer Khaled Hegazy along with other Pakistani officials.

“Highlighting Pakistan’s conducive investment policies, the deputy prime minister invited e& to make further investment in the country’s telecom sector,” the statement read.

Khalifa Al Shamsi “acknowledged the country’s importance as a growing market in the region”, expressing his appreciation towards the country’s efforts to nurture a business-friendly climate.

Dar is part of Prime Minister Shehbaz Sharif’s delegation, which is on a two-day visit to the UAE at the invitation of President Sheikh Mohamed bin Zayed Al Nahyan to participate in the World Governments Summit (WGS) in Dubai.

A press release issued by the Foreign Office (FO) said that this would be the premier’s second visit to the UAE since assuming office in March 2024.

Last month, the UAE expressed keen interest in collaboration with Pakis­tan in the minerals and agriculture sectors during a meeting between PM Shehbaz and UAE President Sheikh Al Nahyan in Rahim Yar Khan on Jan 5.

Pakistan and the UAE share close diplomatic, economic, and cultural ties, strengthened by historical connections and a large Pakistani expatriate community in the Emirates.

The UAE is one of Pakistan’s largest trading partners and a key source of remittances, with thousands of Pakistanis working in various sectors. Both countries collaborate on defence, energy, and investment projects, with the UAE frequently providing financial aid and humanitarian assistance to Pakistan.