Pakistan Govt receives 1st installment of $ 2.6 billion PTCL Bid

[Zakk]

Re: Pakistan Govt receives 1st installment of $ 2.6 billion PTCL Bid

@Pinstripe Danda

I am trying to understand why is this such a big deal. Did you pakis not expect to get paid for the asset sold and hence it is a huge surprise that the agreed upon terms of the transaction actually got the payment processed or is it that you are surprised that an asset can be worth over $1B dollars and are just giddy at the number of zeroes. What exactly is it with this thread? The question you have to ask is, is this transaction halal.

The why is due to a lack of knowledge on your part of the environment in Pakistan..Firstly efforts to sell PTCL to a strategic investor have been in the pipelines since 1994..opposition to the sell off has been very fierce..from unions and people whobenefit in getting who want an organisation they can stuff with their cronies..as well as the human cost factor of possibly making thousands of people unemployed (political consequences). Secondly PTCL has fetched a price which is well over the reserve price..almost double i think..previous sales of assets like Habib Bank and UBL have generally not fetched such good offers..lastly attracting major corporations to the bids does show that Pakistan is being perceived as a safe place for investment.