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NA panel questions PTCL authority to sell assets
字号+ Author:Smart News Source:Business 2025-01-14 02:38:10 I want to comment(0)
ISLAMABAD: The National Assembly Standing Committee on IT & Telecom questioned the authority of the Pakistan Telecommunication Company Ltd (PTCL) to sell its properties since the board of directors was not the owner of the company. The committee meeting in the Parliament House sought answers to several queries from the state-owned largest telecom company, including the board’s powers under the sale purchase agreement (SPA) between the Government of Pakistan and Etisalat. Committee chair Syed Aminul Haque showed an advertisement to the Ministry of IT & Telecom officials and the executive representing the PTCL. The advertisement sought bids to purchase several properties of the PTCL, but in response, the PTCL executive said that no property had been sold as the required price was not offered. Expresses anger for not sharing SPA with Etisalat The answer irked the committee members and Mukhtar Ahmad Malik of the PML-N asked, “What was the intention behind floating this advertisement to sell the properties?” He criticised the PTCL for not fulfilling their commitments made in the committee, “You do not share the SPA, and for three months you have been telling this parliamentary committee that the procurement policy will be submitted – why is everything being delayed?” Mr Haque politely asked if the SPA allowed the company board to sell the assets, and if yes, how many could be sold. The committee members read out the minutes of the previous meeting where the PTCL informed that 62 per cent shares of PTCL were with the Government of Pakistan, while 26pc, along with management rights, were with Etisalat, and 12pc have been floated at the stock exchange. After facing the grilling at the hands of committee members for not providing the answers to queries raised in the previous meeting, the PTCL stated that they did not have the answers as they were not technical people. The committee chair directed the PTCL officials to provide answers to all the queries in the next meeting. Omer Ayub and Sher Ali Arbab criticised the government for planning to block VPNs shortly and for continuous internet throttling. They demanded action under the Committee Rules against the PTA and the IT ministry officials who have been making misstatements in the committee. “They told the committee that internet speed would be normal by the end of August. Later, it was the end of October, and we still face it; some said that VPN usage was degrading the internet,” Mr Ayub said, as he had joined the committee through a digital link. Dr Khawar Siddique, PTA member compliance, told the committee that internet speed was normal in the country, adding that there was no connection with the usage of VPNs and the internet speed.
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