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ETISALAT’s multi-billion dollar corruption scandals

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UAE’s Etisalat & PTCL’s Privatization Deal in 2006 was the biggest financial SCAM in Pakistan’s history. The issues are still live between the parties. Either Etisalat or PTCL could not so far settled the issues involved in the PTCL’s Privatization and the ‘biggest financial scam in Pakistan’s History’ that followed.

PTCLThe latest position, as reported by Daily Khaleej Times of 29th February 2012 is that the two countries have resolved a method to settle the long pending dispute, especially with regard to the remaining payments. UAE and Pakistan will soon find a solution within weeks to a stand off on final payment of a $2.6 billion telecom deal which enabled Emirates Tele-Communication Corporation ETISALAT to acquire a 26 percent stake in Pakistan Telecommunication Company Limited (PTCL).

“The deal was full of flaws and was against the opinion of the advisors. They had asked the Government to scrap it. ETISALAT claimed that they were just accepting an invitation from the Government of Pakistan to join them in their move towards privatization of PTCL. Mr. Waqar Ahmed Khan, the Federal Minister of the new Government for Privatization revealed before the Pakistan National Assembly that the privatization deal of PTCL with UAE’s Etisalat was not at all transparent and was in gross violation of rules and procedures”.

The information about this scandalous deal between ETISALAT and Pakistan – PTCL’s Privatization – had emerged to be “The Biggest Financial Scam in Pakistan’s History”. View a previous report here:  Etisalat & PTCL Deal 2006 – The Biggest Financial Scam In Pakistan’s History

The History Repeats in India in 2011 – The ETISALAT – SWAN Telecom War

The history repeats in India in 2011 – The ETISALAT-SWAN Telecom war. The revelations of the recent 2G Spectrum case in India foiled another attempt of ETISALAT to make illegal gains in India in partnership with Swan Telecom. This has further tarnished the image of ETISALAT, although its chairman keeps saying that “ETISALAT applies the highest standards of transparency in conducting its business operations”.

The greed of the devil for making money by corrupting individuals, corporations or even a country is a never ending process; and its activities are spreading over the entire universe. Full Text:  ETISALAT, UAE, seek justice after alleged fraud


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