PTCL has taken another step toward buying Telenor Pakistan by handing over a detailed business plan to the Competition Commission of Pakistan. It’s part of the ongoing process to get full approval, which the commission had conditionally agreed to earlier.
Although the CCP had already given the initial go-ahead, it came with a few conditions that PTCL must meet before moving forward.
The CCP had raised some serious questions about PTCL’s financial stability, pointing out its ongoing losses. Even with these concerns, the commission allowed the deal to go forward on the condition that PTCL would make big investments in Pakistan’s telecom sector.
At a hearing led by CCP Chairman Dr. Kabir Ahmed Sidhu, with members Salman Amin and Abdul Rashid Sheikh, PTCL officials addressed the commission’s objections. The CCP had earlier asked PTCL to revise and resubmit its business plan, seeking clearer answers about how the merger could affect competition and customers.
PTCL outlines proposed acquisition of Telenor Pakistan and Orion Towers; CCP seeks further clarification on competition and consumer impact
— Profit (@Profitpk) August 5, 2025
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PTCL’s team gave a detailed presentation, saying the merger would bring better efficiency and follow all regulations. They also said combining operations would help reduce extra costs by cutting down on duplicate infrastructure like towers and office space.
However, the CCP had more questions—especially about where PTCL would get the money for this deal and how they plan to grow the combined business, which would include PTCL, Ufone, and Telenor Pakistan. PTCL assured the commission that joining forces would make operations smoother and cheaper.
One major concern was that the Pakistan Telecommunication Authority (PTA) has labeled PTCL as a major market player in six out of eleven telecom segments. PTCL is challenging this decision in the Sindh High Court.
The CCP also questioned PTCL’s financial performance. While companies like Zong, Jazz, and Telenor Pakistan are making profits, PTCL has been reporting losses for years. Ufone, PTCL’s mobile service provider, is also struggling financially.
PTCL, which also owns Ubank (a microfinance bank), is expected to give more clarifications soon. Telenor’s planned deal was made public back in December 2023, but it hasn’t cleared all the official hurdles yet.
Currently, PTCL is mostly state-owned. The Pakistani government holds a 62% stake, while 12% is traded on the stock market. In 2006, UAE-based company Etisalat bought 26% of PTCL’s shares and took over its management. Interestingly, before Etisalat came in, PTCL had made a profit of Rs20.78 billion in 2005–06. But since then, it has been running in losses.
A recent report from the Finance Ministry showed that PTCL ranked seventh among Pakistan’s top loss-making state-owned companies in the first half of the 2023–24 fiscal year. The same report also noted that PTCL has pension liabilities of Rs42.84 billion.
Adding to the complexity, the Finance Ministry has warned that merging Telenor’s systems, staff, and operations with PTCL and Ufone could be a tough task. Such integration could cause internal conflicts, service problems, and possibly lead to customers leaving.
Telenor Group, besides its operations in Pakistan, runs telecom businesses in several countries. It owns 55.8% of Grameenphone in Bangladesh, 33.1% of CelcomDigi in Malaysia, and 30.3% of True Corporation in Thailand. The company also has offices in Bangkok and Singapore.
Also read this: How to Activate PTCL Unlimited Internet Packages in Pakistan
