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December 21, 2005
Pakistan's telecom privitazation bang
Alas the government of Nawaz Sharif managed to break the deadlock and privatize the state run telco.
The Pakistani government and Emirates Telecommunications Corp., or Etisalat, reached an agreement on the privatization of Pakistan Telecommunication Ltd., according to a statement issued by Pakistan's Privatization Commission. Under the agreement the UAE company will purchase 26% stake of PTCL for $2.6 billion.
India has already deregulated its telecom industry by selling its state run long distance phone provider back in February 2002. The country is considered one of the fastest growing telecom markets in the world.
Bangladesh which has been demonstrating tremendous economic performance (with exports growing at 11% and GDP 5.6% according to World Bank figures) in the past several years also started deregulating its telecom market with several private mobile and fixed line operators. The countries mobile phone market is one of the fastest growing and most profitable in the region. Bangladesh however has not been able to privatize its state run telecom company due to heavy union resistance.
Posted by admin at December 21, 2005 03:13 AM