Deputy Prime Minister and Foreign Minister Ishaq Dar has arrived in Dubai to hold discussions with Etisalat’s senior management. The aim is to break a long-standing deadlock linked to unpaid amounts under the PTCL privatization deal.

Pakistan’s Foreign Office confirmed the visit and said Dar travelled to Dubai from Davos, Switzerland. He is expected to hold official meetings focused on resolving the dispute, though no details were shared about meetings with UAE government officials.

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The dispute dates back to 2006 when Pakistan sold a 26 percent stake and management control of Pakistan Telecommunication Company Limited to Etisalat for $2.6 billion. While most of the amount was paid, Etisalat withheld nearly $799 million.

Etisalat argued that Pakistan failed to transfer all properties included in the agreement. Under the deal, 3,384 PTCL properties were to be handed over, but officials later confirmed that only 3,248 properties existed, while 38 could not be transferred.

This shortfall created a gap that remained unresolved despite several rounds of negotiations over the years. In 2025, fresh in-camera talks were also held to avoid international legal action.

Officials said Pakistan has chosen dialogue over litigation, hoping to reach a negotiated settlement and close the 16-year-old issue.

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Analysts say Dar’s visit also carries regional significance. It comes at a time when Pakistan and the UAE are working to strengthen economic ties amid shifting dynamics in the Middle East.

According to officials, resolving the PTCL dispute is part of a broader plan to restore investor confidence and unlock stalled foreign investment by settling long-pending issues.