Etisalat hits back at Pakistan's inquiry call

* username: rupertbu

A top Etisalat official yesterday hit back over a proposed inquiry into the company’s conduct in Pakistan, claiming it “applies the highest standards of transparency in conducting its business operations and international expansion strategy”.

Mohammed Omran, the chairman of Etisalat, was responding to remarks by Waqar Ahmed Khan, Pakistan’s minister of privatisation, who called for an inquiry following a dispute between Etisalat and Pakistan over the sale of a 26 per cent stake in Pakistan Telecommunications.

While Etisalat concluded the deal in 2006, it has withheld for the last year a US$800 million (Dh2.93 billion) payment because it claims the Pakistani government had not lived up to obligations to transfer 3,500 properties to Pakistan Telecommunications.