PTCL CORPORATE SOCIAL RESPONSIBILITY

ANALYSIS

PTCL for improving its services, mainly after its privatization. He however urged
the company’s president to further improve services to positively impact
businesses.
He said the provincial government has provided Internet access to over 4,000
schools across the province, particularly in the far-flung areas. As a result,
thousands of students are benefiting from the facility. He called upon PTCL
leadership to play its role in discharging corporate social responsibility.
Speaking on the occasion, PTCL President, Walid Arshad said that the centre is
the ever first certified data storage bank by an international body -EPI- which
would provide state of the art products and services backed by engineering and
support for the government and enterprise markets of Pakistan. The centre is an
ideal choice for companies who want flexibility to house their primary, disaster
recovery and/or business continuity sites and choose from a variety of cost
reducing services as their business demands.
He said that the data centers are part of the overall PTCL-managed services
approach which provides corporate customers not only reduced costs, but also
improvements in the availability, performance, resilience and security of an
organization’s IT systems. With a view to maintain its standard, there would be
quarterly audit of the system, he added.
Appreciating experts’ capability, Arshad said PTCL experts are now facilitating
Sri Lanka in setting up information storage centre, thus, the company has
achieved international recognition. When the broadband was introduced in
Pakistan, it was not expected to get success but now Singapore has included
Pakistan in the world broadband map, he said.
He observed that access of information is basic right of every citizen and they
took it as mandatory to provide information to the public without exclusion and
interruption. PTCL, with the inauguration of Karachi data centre earlier and now
in Lahore, will have the largest geographically redundant commercial data
centers in Pakistan, he added.
PTCL Data Centre provides customers managed and hosted cloud-based
services that comprise of computing, processing, storage and software as
services, application and infrastructure hosting, caging, co-location, disaster
recovery, backup solutions, hosted business Solutions, and unified
communications and tele-presence switching. The certification by an
internationally recognized organization ensures that the data centres provide a
reliable, responsive and resilient infrastructure, designed and built using
international standards and provides a secure, managed, climatically controlled
environment for the housing and hosting of sensitive, mission-critical data and
applications.

This will benefit the customers in terms of cost, efficiency and scalability of its IT
systems while it would also allow businesses to protect critical applications and
confidential data, enhance its IT operational efficiencies, and rapidly create new
secure application environments to support new business processes. It is
pertinent to mention that the PTCL has already established its data centre in
Karachi.

The Pakistan Telecommunication Company Limited (PTCL) has said that under
its corporate social responsibility, it has provided 500 Free Vfone telephone
service sets at flood relief camps in Sindh and Balochistan in support for
the flood affected people.
A PTCL statement said the IDPs living in relief camps could now make free
unlimited local and national calls and stay in touch with rest of the community
and their relatives.
Meanwhile, the PTCL General-Manager Consumer Services, Rizwan Ahmed
Bhutto and Mushir Khan, the phone utility’s GM Coordination, during their visit of
the IDPs camp at Lyari Poly Technical College; Mir Muhammad Baloch Road
sympathized with the flood affected people there and conveyed best wishes from
the management of PTCL.
They also said on the occasion that PTCL share the ordeal of the displaced
people and committed to provide all assistance throughout the country

PTCL Mobile Medical Units for Islamabad

Islamabad: Pakistan Telecommunication Company Limited (PTCL) through its

Mobile Medical Units has started providing medical facilities to its employees and
local residents of remote areas where medical facilities are not easily accessible,
says a press release.
The service has been initiated on special instructions of Walid Irshaid, President
and CEO PTCL, to ensure the provision of medical treatment facilities at the
doorsteps of its employees serving in remote exchanges.

Initially, PTCL has arranged the mobile medical units for Islamabad and Lahore
but aims to expand the service to other parts of the country as well.

The mobile medical units are providing medical services, including referral to
panel hospitals, and extending treatment facilities to the general public as a
gesture of corporate social responsibility.

The PTCL managements initiative has been highly appreciated by the employees
and general public.

s raised the bar in delivering cutting cutting-edge business solutions to customers

and corporate clients through the introduction of telepresence, the first of its kind
in Pakistan. PTCL TelePresence is an innovative new technology, rich sound
with high-resolution video in combination to achieve a true virtual meeting
experience per person in relationship with customers, partners and employees in
real time. The main driving force behind the introduction of this technology is to
reduce costs, improve) to improve corporate social responsibility (CSR
credentials by reducing environmental impacts and responses to the challenges
and opportunities.
TelePresence PTCL offers an effective end to end to life size, experience the full,
scalable management services worldwide through its network PTCLs. PTCL will
provide its clients and increase their presence in our studies of Tele rent by the
hour, not to invest in expensive technology, so stay productivity through
interaction and less.
PTCL offers telepresence quality video, allowing access to anyone, anywhere in
the world. Quality, simplicity and reliability can focus on questions about the
meeting, communication and so natural and effective face to face like will
increase the speed of decision making and helps build better relationships with
colleagues , employees and the success that all customers are critical to today’s
business in prosperous and competitive.
Executive Vice President of Corporate Solutions, said Zaman Gulzar PTCL offers
telepresence studios to rent conference, currently in Lahore, Karachi and
Islamabad. Apart from that conference centers in the state, the Middle East,
Europe and North America and other contact telepresence suites worldwide.
Studies with special conference table offers space for up to six people by region
and include video screens in a virtual table for 30 users created. Apart from this
conference studio run PTCL, which offers a managed service is available to our
customers with high usage, where the company could choose PTCL to build and
equip a study by the same considerations of the customer.
Senior Executive Vice President Commercial Telepresence PTCL Naveed Saeed
said a great leap forward in Multimedia Conferencing is technology. Our goal is
to offer our customers the latest and installed with communications technology
and the best possible solutions that serve all the needs for increased productivity
to travel through more interaction and less.

Telecommunication Company Limited (PTCL) in an effort to connect the

displaced families from Swat with their loved ones and missing family
members has established PCOs at five different relief camps. These
PCO’s will provide free communication services to the IDP’s. Besides
the company has also established medical teams and has donated
medicines. PTCL doctors and paramedical staff will visit all the major
relief camps on a rotation basis.
PTCL President and CEO Walid Irshaid, has stated that the PTCL will do
its utmost to provide relief to the IDPs especially PTCL employees
affected by this crisis. PTCL stands by the government of Pakistan to
ensure that we fulfill our responsibility to help these war affected
people, he said.
Around 300 PTCL staff families have been displaced on account of the
confrontation going on in Swat. The management has decided to provide
financial assistance to each of these families. The company has also
arranged accommodation facilities for fourteen of these families and
this number is growing on a daily basis as more and more staff families
contact for accommodation.
PTCL has always played a proactive role during all difficult times to
provide help to the people in the camps. It had generously donated
during the 2005 earthquake in Kashmir, during the Baluchistan
earthquake and for Benazir Income Support Fund created for assisting
poor families.
PTCL with its growing concern and empathy is certainly pulling all the
strings to make things easier for the IDP’s, and its efforts are being
highly acknowledged and applauded by people from all walks of life.
Pakistan Telecommunication Company Limited (PTCL) has started providing
medical facilities to its employees and the residents of remote and far-flung areas
where medical facilities are not easily available.

"For the purpose, PTCL Mobile Medical Units service has been initiated on the
special instructions of President and CEO PTCL Walid Irshaid to ensure medical
treatment facilities at the door step of its employees serving in remote
exchanges," said a PTCL spokesperson here on Saturday.

He said the PTCL has arranged these mobile medical units initially for Islamabad
and Lahore with the aim of expanding this service to other parts of the country.
The mobile medical unit provides medical treatment services including referral to
panel hospitals. The mobile medical unit service also extends treatment facilities
to the general public as a gesture of corporate social responsibility on behalf of
PTCL.

Meanwhile, the service and initiative taken by the PTCL management to provide
healthcare facilities for the public have been highly appreciated by the employees
and the general public. "It is not just the field of technology and development in
which PTCL has excelled, its engagement in corporate social activities,
particularly in health, education and social development," said Muhammad
Shahid.

CL as a socially aware and responsible entity is determined to do its utmost in furthering worthy
causes that contribute to the lives of individuals and help better the standards of society as a
whole.

PTCL employees donate One-Day salary for IDPs

Pakistan Telecommunication Company Limited employees have contributed their one day salary
that amounts Rs. 20 million for the support of internally displaced people of Swat and other
affected areas.
CEO and President of PTCL Mr. Walid Irshaid called on Prime Minister Syed Yousuf Raza Gilani
at PM’s House and presented him a cheque of Rs. 20 million on behalf of PTCL employees for
PM’s Special Fund for the Relief of Victims of Terrorism.
While thanking PTCL employees for their generous contribution and appreciating their willingness
to help IDPs, Mr. Waild Irshaid said that PTCL employees have exhibited their profound sense of
sharing and empathy on this occasion. This highly speaks of the strong commitment of our
employees with this national cause.”
“Contribution from our employees during these days specially donating one day salary for IDPs in
these testing times shall be greatly helpful in mitigating IDPs miseries and will go a long way in
their rehabilitation process.

Donation to SOS Villages

PTCL keeping with its healthy tradition of supporting non-governmental organizations recently
donated a sum of Rs.2.5 million to the SOS Villages. As most people would be aware, SOS is an
organization that looks after the well-being and education of orphans and the destitute.

Last year, PTCL organized a special event at the SOS Village Rawalpindi, which the then Prime
Minister of Pakistan, Mr. Shaukat Aziz, attended. He handed over a cheque of Rs.2.5 million,
donated by PTCL for this noble cause, to the SOS Children’s Village.

Scholarships for Persons with Disabilities

Another recent CSR initiative taken by PTCL was announced at the World Telecommunication
Day held on May 17, 2008. This year the worldwide theme for the Day was “Connecting Persons
with Disabilities.” To raise awareness of this theme and support initiates focusing on less
privileged persons, PTCL chose to become the lead sponsor of the World Telecom Day event in
Islamabad contributing PKR 6.8 Million.

During his address at the event, PTCL’s President/CEO, Mr. Walid Irshaid announced five
academic scholarships per year for persons with disabilities so that they could pursue their career
of choice by obtaining higher education at any university with Pakistan. PTCL would bear the full
tuition costs and living expenses of those awarded these scholarships. PKR 1.5Million was
announced focusing on the education of the special people

Collaboration with Universal Service Fund (USF)

The Universal Service Fund (USF) and PTCL have entered in a contract to provide basic
telephony and data services to the population in the yet un-served areas of Baluchistan districts
of Pishin, Killa Abdullah and Quetta. PTCL is making consistent efforts to enhance Pakistan’s
capacity to develop and produce a globally competitive telecom sector and industry.

Making a determined effort develop Pishin, a far flung area of Baluchistan is a clear manifestation
of PTCL’s resolve to bridge the digital divide. With the support of USF, PTCL is set to extend the
benefits of its ubiquitous network coverage to the under-served communities in the un-served
areas. PTCL is contributing Rs. 149 million to this endeavor in an effort to bring information and
communication technology to the remotest areas. The total cost of the project is PKR 2000 Million
out of which PTCL contribution is PKR 1275 Million while USFCo contribution is PKR 725 Million.

Thus, PTCL, as a socially responsible corporate entity, has been pursuing different social causes
touching on areas of culture, sports, music, environment and general welfare by supporting
different initiatives. As such, PTCL’s CSR activities and new ventures are warmly welcomed.

Donation to Earthquake victims in Baluchistan

Earthquake struck the western telecom region Quetta leaving terrifying effects in the region. Mr.
Walid Irshaid President & CEO PTCL donated Rs.10 Million for the reconstruction and
rehabilitation of the area.

Donation to Benazir Income Support Program

Mr.Walid Irshaid President & CEO PTCL donated Rs.10 Million to the Benazir Income Support
Program. This program directly focuses on the poor populace of Pakistan.

Sponsoring Event at LUMS

PTCL was the lead sponsor for Synergies 2008; the 1st ever Business School Competition in
Pakistan organized by Lahore University of Management Sciences costing PKR 1 Million.

PTCL President Mr. Walid Irshaid announces Rs 10 Million for National Press Club
Islamabad

The president of PTCL, Walid Irshaid has said that PTCL was still one of the most profitable
National organizations, despite all economic and financial crisis and back draws.
Addressing the inaugural of the new building, alongside president NPC (National press Club),
Tariq Chaudhry, general secretary Afzal Butt, and other luminaries, including SEVP PTCL
Sikandar Naqi, EVP Ali Qadir Gilani. Walid Irshaid expressed the company's willingness and
readiness to tackle any impending challenges with élan and preparedness.
Mr. Walid Irshaid also assured press club about his full cooperation and assistance, and during
the lunch hosted in his honor by NPC also announced a grant of Rs. 10 million, DSL Internet
services, IPTV and other facilities
He said that PTCL would continue to work for betterment of media in Pakistan, and also lauded
media services rendered during the last few years

PTCL Gets Environment Friendly

The Pakistan Telecommunication Company Limited (PTCL) has decided to introduce a new bill
format for its customers, effective February 2009.
This decision was taken to ensure that PTCL stir towards adopting environmental-friendly and
customer-friendly policies inline with the government of Pakistan's efforts, which recommends
companies and institutions to go green.
This initiative of PTCL also coincides with the Government’s decision to celebrate 2009 as the
"Environment Year". PTCL's decision to reduce the number of billing pages is an environment
friendly initiative and is a way forward towards becoming a paperless enterprise.
According to Dr. Sadik Al-Jadir, SEVP Commercial PTCL, preceding bill format comprising
multiple pages, would be replaced with a new one-page bill format, thus packing all the essential
billing details on a single page. This single page bill format would help save, at least 12 million
papers every month that are being used for printing the billing details.
To facilitate the customers, itemized billing details would remain obtainable and accessible.
Customers would be able to obtain their itemized billing details by visiting any customer service
centre of PTCL and would also be able to access essential billing details through IVR by dialing
1200. PTCL Call center is also expected to start taking orders from customers for their itemized
billing details. Subsequently, these details would be delivered to the customers through courier
within a certain time frame.
Dr. Sadik said, “PTCL is determined to improve and build good relationship with its customers by
providing novel and superior telecom products and services to its valued customers and is
striving hard to meet their expectations.”

PTCL, CISCO and NUST to establish Center of Excellence for Internet Technologies

Islamabad: Under the banner of PTCL, CISCO and NUST, Center of Excellence for Internet
Technologies is being established at NUST SEECS, Islamabad. The Center – a brainchild of Mr
Walid Irshaid, President and CEO, PTCL - is to be set up in the state of the art. An MOU to this
effect was signed yesterday by the three parties, with the Chief Guest being Dr Ata ur Rahman,
Chairman HEC. The occasion was also graced by high officials from public sector, academia and
industrial organizations. The ceremony was a huge success and PTCL, CISCO and NUST’s
leading role in taking up new challenges to improve the quality of IT education in Pakistan was
greatly lauded by members of academia, industry and the media present at the ceremony.

Mr Sikander Naqi Executive Vice President Corporate Development speaking on the occasion
said that by setting up such a Center, PTCL will be able to benefit from world class research that
will be of immense value to them. In addition, the human resources that will be developed at this
Center will be able to export their skills and expertise to the region and beyond. This will spur
growth in the Pakistani IT sector, and will contribute towards enhancing the quality and quantity of
exportable IT related skills to the global marketplace.

The Center, staffed by researchers from NUST, will work closely with Cisco engineers in the US
who will provide the thematic direction of the joint research. The Center’s research is to be funded
by the National ICT R&D fund. Dr. Qasim Sheikh, the CEO of ICT R&D fund, stated that his
organization is pleased that PTCL, NUST and CISCO are forming a joint research group that will
work on significant problems that are relevant to Pakistan. A research project under similar
arrangements, funded by the National ICT R&D Fund, is currently underway with Cisco scientists
and Pakistani researchers collaborating to develop open source tools for performance monitoring
of network traffic. The output of this work has already generated An application for a US patent is
being filed as a result of the work carried out during the course of that research. In addition to its
research ambitions, the Center will also be providing high quality professional training courses to
PTCL and other telecom companies.

corporate governance
 are merely descriptions of practices
or preferred orientations. For example, many authors
describe corporate governance in terms of a system of
structuring, operating and controlling a company with a view
to achieving long term strategic goals to satisfy
shareholders, creditors, employees, customers and
suppliers, and complying with the legal and regulatory
requirements, apart from meeting environmental and local
community needs. However, there is substantial interest in
how external systems and institutions, including markets,
influence corporate governance.

Corporate governece analysis

aking the case of the PTCL, 12 per cent of its shares were sold to the public,
including foreign buyers at a very high premium ten years ago. Neither have we
been able to attract a potential buyer for the PTCL nor has the share value
appreciated very much. On the other hand, the PTCL has been revising its tariff
suiting its convenience without taking into consideration the plight of the
subscribers and making huge profits in the bargain.

To hasten the process of the PTCL privatization they engaged the Morgan
Grenfell as financial adviser in Aug 1995, for its re-structuring and sale of 26
per cent of the equity to a strategic buyer at a total cap of $2.75 million for the
retainer fees and $0.75 million for expenses.

The task was to be completed in nine months. After going through the exercise
in Nov 1997 Deutsche Morgan Grenfell financial advisers of the PTCL very
clearly told the Privatization Commission (PC) that no major telecom company
is prepared to acquire the stake.

The advisors also recommended transfer of the ownership from the ministry of
communications to ministry of finance/PC. Their recommendations fell on deaf
years and their contract was terminated after negotiated settlement.

The PTCL's strategic sale has been in the marketing phase since 1996. This was
the period when Mr. Nasim Mirza was brought in as its chairman by the then
government with the task of privatizing it in two years.

He stayed for four years without acheiving the objective. It was during his time
that the PTCL lost its credibility when foreign shareholders were denied the
profits on the excuse that they held vouchers and not the shares, as it was the
PTCL's responsibility to convert these vouchers into shares.

Apart from this, share-holders were not informed what assets would be
transferred to the newly created National Telecommunication Corporation
which was to take over all the lines of the armed forces and other government
departments.

This created panic amongst shareholders abroad that had purchased these
shares at Rs55 a share. As the prices crashed, most of the shares were sold out
in panic. Now a share is selling at Rs39 not a big deal because Rs10 share was
sold at Rs30 and when the index of Karachi Stock Exchange has touched 5050
and created an all-time record, the PTCL shares are still floating between Rs39
and Rs40.

The PTCL is a very high value asset-virtually a gold mine for Pakistan. Perhaps
this was at the back of mind of Minister for Privatization Dr Abdul Hafeez
when he said that we want to avoid the situation when we have a public
monopoly going in the hands of the private sector.

According to latest balance-sheet, the PTCL's total revenue for the period
ending December 31st 2003 stood at Rs37.10 billion, an increase of Rs4.18
billion over previous year, this is in spite of reduction in new telephone
connections, monthly line rent, international outgoing calls and NWD charges.

The position of revenue could have been much better if the good sense had
prevailed in early years when the PTCL was advised to cut down tariff. Due to
lack of foresight and bad planning, the PTCL lost billions of rupees by not
entering into cellular business.

The tragedy is that they allowed their entire infrastructure to be used by the
cellular companies; they woke up when it was too late. The PTA role has been
disappointing as a regulator authority. The four cellular companies have done
extremely well but contravened the agreement by not catering the needs of rural
areas.

The concentration has mainly been on major cities of Pakistan .It is anticipated
that within the next three to four years cellular telecom sector will have 100 per
cent growth. Existing four cellular companies, U fone, Mobilink, Instaphone
and Paktel have around 3.3 million subscribers. Mobilink being the largest with
2.2 million subscribers is planning to increase its base to 5 million and so is the
case with U fone and other companies.

What was the wisdom in inviting more cellular companies when the existing
companies had the potential to meet the growing needs of the people? Even in
most advanced countries of the world the number of cell companies is less than
in Pakistan.

It is surprising to note that on one hand, the PTCL is being planned to be

privatized on the other hand millions of rupees are being spent on expansion.
This is absolutely ridiculous on the part of higher management. It is being done
to get more prices this is a wrong perception because the prospective buyers
have already determined its price.

The question arises why the PTCL has not come up to the expectations of the
people. The truth of the matter is that it was due to unnecessary political
interference from the ministry and the ill-disciplined CBA has been the main
cause of their failure.

The problem with PTCL has been that it is overwhelmed with inefficiency and
that short of immediate restructuring, including manpower audit based on
corporate ethics and proper commercialization, it would continue it's downhill
slide. This is a unique organization where people contribute over Rs 11 billion
per year without even lifting the handset only to approach the Wafaqi Mohtasib
for their complaints.

The remedy does not lie in privatization but making it more people-friendly.

Following are some the measures suggested:

a. 64000 employees are worried about their future. A state of uncertainty is

prevailing in the ranks, which is detrimental to the interest of the company. The
existing manpower has given its best efforts to the company; if there were
failures these were because of their resolve but unnecessary interference from
the ministry and the PTCL HQ. There is immediate need to restore the
confidence of the entire workforce.

b. The Ministry should allow the PTCL to work independently.

c. Business rules must be changed without further delay. The NTC carved out
of PTCL is doing much better than PTCL why can't PTCL produce better
results.

d. Decentralization is the need of the hour. Powers must be delegated at

regional level for better output and quick results.

e. Finance should be separated from technical management and placed under

respective EVPs. and they should be allowed free hands to carry out business
independently.

f. Centralized procurement should be stopped; it only adds to delays in

implementing various projects.

g. Corporate culture should be introduced not on paper but should be visible on

the ground.

h. Regional EVPs should be given full powers to tackle any situation. Undue
interference from the PTCL HQ must end. Only pre qualifications and
specifications should remain the domain of PTCL HQ; the rest should be left to
the field managers.

i. Karachi, which generates maximum revenue, is badly planned. PTCL cable is

frequently damaged by other utilities. There is need to revert to radio
connectivity.

j. Timely decision is always lacking. Around 340 customers are waiting for
over two years for Digital Cross Connect in Karachi alone.

This is self-created loss to PTCL by not meeting the requirements. PTCL had
the potential to airlift any equipment and install in a given time why this
delay?

k. The success of our higher management at PTCL HQ and deployed in the

field has been revolving in obeying illegal orders as a result some officers were
nabbed by the NAB. This practice must be brought to an end.

l. All systems must have redundancy if you have no spares the downtime
increases that mean loss of revenue.
m. Even today the kingpin is the head clerk. There is immediate need to
computerize the entire network and it should be available on CD, because
corruption starts from head clerk.

n. PTCL needs to establish independent sales and marketing division, which

has been non-existent and it should have nothing to do with the networking.
Networking staff should only ensure 100 percent operational readiness of the
equipment.

o. Harassment should be the last tool in the hands of the FF management give
time to officers to improve but without interference.

p. Provision of latest vehicles fitted with tools and proper gadgets must be
provided in all the regions for quick laying and rectification of faults.

How much of sales proceeds from the privatization of PTCL can help reduce
the debt burden is a million dollar question. The sale proceeds of PTCL are
estimated to be 5 to 6 years revenue therefore it does not justify the sale. Float
more shares on the stock exchange.

To conclude, extraordinary circumstances demand quick and exceptional

solutions. The wisdom of the management will be measured by their efforts to
make the PTCL a model customer-oriented company without privatization.

The improvement should be visible practically and not through press

advertisements. Success in today's competitive rapidly changing global
economy is based on the ability of the company to adapt to the changing
conditions without losing time.

separation from ownership

a situation in which the owners of a business do not manage it or control it. This
applies particularly in large publicly-owned companies where there are
many shareholders, none of whom has a controlling interest. It can also apply to
smaller family-owned companies where the business is run by managers.
However, in the case of large companies important shareholders like investment
trusts and pension funds can exert pressure on the management to run
the company in a certain way.

MANAGEMENT OF PTCL TRANSFERRED TO ETISALAT INTERNATIONAL

PAKISTAN

Islamabad, April 12, 2006

The management control of Pakistan Telecommunication

Company Limited (PTCL) was transferred to Eitsalat
international Pakistan (EIP), a subsidiary of Emirates
Telecommunication Corporation (Etisalat) of United Arab
Emirates.

The completion of the successful privatisation of PTCL is a

milestone in the privatisation and investment program of
Government of Pakistan. The formal hand over of the
management of PTCL to EIP was completed in a brief and
dignified ceremony, where, the nominees of EIP were
formally co-opted on the Board of PTCL and its group of
companies.

The new Board of Directors appreciated the

accomplishments of the outgoing management and Board of
Directors and gave their commitment for bringing in
efficiency, quality service and modern technology for the
benefit of the people of Pakistan.

Mr. Awais Ahmed Khan Leghari, Federal Minister for

Privatisation & Investment, H.E. Ambassador of UAE in
Pakistan, senior officials of Privatisation Commission, the
Ministry of Information Technology and PTCL were present
during the handing over ceremony.
It may be recalled that the Share Purchase Agreement
(SPA) was signed with EIP on March 12, 2006. Pursuant to
the signing of the SPA, EIP paid the initial payment of US
dollar 1.4 billion. The remainder amount of US$1.2 billion will
be paid in 9 equal semi annual installments.

Mr. Awais Ahmed Khan Leghari on this occasion said that

the handing over of PTCL management to EIP would help
usher in the new era of telecommunications service in the
country. The Minister further stated that the change of
management would also attract fresh
investment in the country. He termed the privatisation of
PTCL as an historic success under the political and
democratic government of President Musharraf and Prime
Minister Shaukat Aziz.

PTCL is the leading provider of basic telephony services in

Pakistan. Besides providing fixed line and ancillary services,
PTCL owns Pakistan Telecommunication Mobile Limited,
one of the leading cellular companies in Pakistan and
Paknet a countrywide Internet service provider.

Ptcl