Karachi, April 30, 2026 — Pakistan Telecommunication Company Limited (PTCL) on Thursday firmly rejected media reports suggesting that its strategic partner Etisalat is planning an exit from Pakistan, calling the claims baseless.
The management clarified that no discussions regarding an exit have taken place and confirmed that PTCL continues to maintain close coordination with Etisalat on strategy, business planning, and operational performance.
A formal statement will be issued to further clarify the situation.
Strong Coordination Between PTCL and Etisalat
PTCL reiterated that its partnership with Etisalat remains stable, with ongoing collaboration across strategic and operational areas.
The clarification comes amid speculation in local media about potential restructuring or divestment, which the company has now dismissed.
Telenor Integration to Create Telecom Giant
During an analyst briefing hosted by Arif Habib Limited, PTCL management also provided updates on its major acquisition and industry positioning.
The group confirmed that after acquiring Telenor Pakistan, it is set to become the largest telecom operator in Pakistan in terms of:
• Network infrastructure
• Site count
• Spectrum holdings
Post-integration, the combined entity will serve approximately 73.5 million subscribers, making it one of the largest telecom players in the country.
It will also hold around 290 MHz of spectrum across 2G, 3G, 4G, and 5G technologies.
Regulatory Timeline and Integration Outlook
• CCP approval received in 2025
• Court approval expected by June 2026
• Commercial integration likely in Q3 2026
Management expects full operational synergy to begin after regulatory clearance.
ARPU and Financial Performance Trends
The company reported that combined ARPU (Average Revenue Per User) for Telenor and Ufone stands at PKR 300–310.
Industry ARPU is gradually improving after previously dropping below USD 1 due to currency depreciation.
Both entities are currently operating at 40%+ EBITDA margins, reflecting stable profitability.
Cost Optimization and Tower Reduction Plan
PTCL plans to reduce around 7,000 telecom towers as part of its efficiency drive.
• Average tower cost: PKR 250,000–300,000/month
• Expected synergies from 2027 onward
Key savings areas include:
• Facility management
• Marketing consolidation
• Sales & distribution integration
5G Rollout Dependent on Device Adoption
Management noted that only 2.5% of devices in Pakistan are 5G-enabled, limiting immediate mass rollout.
The company is working with regulators to improve financing options for device adoption.
While the regulator mandates around 1,000 sites annually, rollout will depend on market demand and ecosystem readiness.
Financial Position and Debt Structure
• Income tax receivables: PKR 81 billion
• Deferred tax assets: PKR 26 billion
• Total debt increased to PKR 298 billion (from PKR 126 billion in 2023)
Despite higher debt, leverage improved:
• Debt-to-EBITDA: improved from 3x (2023) to 2x (2026)
Fiber Expansion Strategy
PTCL, Pakistan’s largest FTTH operator, currently serves approximately 833,000 fiber subscribers.
The company plans to double or triple its fiber footprint and subscriber base by 2030, expanding services across:
• Broadband internet
• IPTV
• Enterprise solutions
• Voice services