ISLAMABAD: PTCL President and Group CEO Hatem Bamatraf has confirmed that PTCL, along with the merged telecom entity of Ufone and Telenor Pakistan, will participate in Pakistan’s upcoming 5G spectrum auction. He expressed optimism that long-standing industry concerns would be addressed and that spectrum would be offered under favourable terms.
The announcement was made during a joint press conference with Telenor Pakistan’s management, where Mr Bamatraf formally disclosed PTCL’s acquisition of 100 per cent of Telenor Pakistan’s issued share capital and Orion Towers for Rs108 billion. As a result, Telenor Pakistan and Orion Towers have become wholly owned subsidiaries of PTCL, alongside Ufone and U Microfinance Bank.
Mr Bamatraf did not comment on the unresolved $800 million withheld by Etisalat since its acquisition of management control of PTCL in 2006. The federal government continues to hold a 62 per cent stake in PTCL, while the remaining shares are owned by Etisalat and public investors.
Under the agreed structure, Telenor Pakistan will continue operating as a separate legal entity for the next five to six months before integrating with Ufone into a merged company, subject to approvals from the Pakistan Telecommunication Authority and the Islamabad High Court. Mr Bamatraf said the merged entity would focus on optimising spectrum resources, expanding network capabilities, and delivering secure, digitally enabled services aligned with Pakistan’s broader digital ambitions. He also assured employees that the merger would not result in job losses.
Following the acquisition, the combined PTCL–Ufone–Telenor entity is expected to become Pakistan’s second-largest telecom operator with an estimated 35 per cent subscriber market share. Jazz will remain the market leader, while Zong will retain its position as the third-largest operator.
In a related development, Telenor Pakistan’s newly constituted board has appointed Awais Vohra, the company’s former Chief Technology Officer and a founding member of its launch team, as acting CEO. All required regulatory approvals to complete the acquisition have now been finalised.
Meanwhile, the Pakistan Telecommunication Authority’s Annual Report 2024–25 shows that telecom sector revenues have exceeded Rs1 trillion, reflecting 12 per cent year-on-year growth. Subscriber numbers crossed 200 million, broadband users surpassed 150 million, and nationwide coverage exceeded 92 per cent. Despite this growth, operators continue to face financial pressure due to high electricity costs and dollar-linked government payments.
