PTCL was a Government entity, that was privatised and bought by an Arab based business group a few years back. During the purchase Etisalat, the new owner of PTCL, has refused to pay the remaining 800$ Million over due since 2012.
In fact PTCL has been advertising very high profits for the past year, which is ironic as PTCL is making profits on the Government of Pakistan 800 Million $. Now that the people of Pakistan have demanded of PTCL to pay interest or profit share on this overdue payment, PTCL has started a new chicanery.
PTCL has announced more than 75% decrease in profit margins in first three months of 2015. Which is strange since PTCL has reduced their workforce in 2014, which should have reduced their costs and increased their profits.
I therefore request FBR and CCP to please look into the affairs of PTCL and find out reasons for this reduced profitability in 2015. Is this a trick to cheat the public and the Government?
ENGR SHAHRYAR KHAN BASEER,
Peshawar, April 21.