PTCL CEO Blames CCP for Telenor Deal Delay

By Salman Khan

ISLAMABAD: Hatem Bamatraf, President and Group CEO PTCL & Ufone 4G, has blamed the Competition Commission of Pakistan of Pakistan (CCP) for a delay in the transaction of the PTCL-Telenor merger, warning that it could affect the deal due to certain timelines in the agreement.

He has called for the speedy transaction of the PTCL-Telenor merger and warns that the transaction may be affected due to certain timelines in the agreement.

While talking to the media, He said that they had submitted all documents to the Competition Commission of Pakistan (CCP) available for transaction. “We are surprised by a delay in transaction for the last one year’ he said, adding that Etisalat had been doing such transactions in other countries, which had not taken such delays.

He said that there were certain timelines in the transaction agreement that could affect the PTCL Telenor merger. Hatem Bamatraf, President and Group CEO PTCL & Ufone 4G, has called for the speedy transaction of the PTCL-Telenor merger and warns that the transaction may be affected due to certain timelines in the agreement.

While talking to the media, He said that they had submitted all documents to the Competition Commission of Pakistan (CCP) available for transaction. “We are surprised by a delay in transaction for the last one year’ he said, adding that Etisalat had been doing such transactions in other countries, which had not taken such delays.

He said that there were certain timelines in transaction agreement that could affect the PTCL Telenor merger.

Another official of PTCL said that they were expecting further growth in PTCL following the merger with Telenor. Hatem Bamatraf, said that the delays in granting the merger of Telenor-Pakistan with the PTCL by the Competition Commission of Pakistan (CCP) were unfair. “We are waiting for the approval and we are surprised by the delay- it should not have taken place,” Mr Bamatraf said.

The PTCL management presented the financial results of Quarter-1 of 2025, and the CEO of the company said that while the PTCL has compiled documents for the CCP, the delay in announcement of the decision was critical.

He even referred to the investments made by Etisalat in the country and other markets where the UAE-based company was operating.    

Mr Bamatraf added that if the required permission from the CCP was not received in time, the loan agreement between the PTCL and the International Finance Corporation, a member of the World Bank group, might not be completed.  

Another official of PTCL said that they were expecting further growth in PTCL following the merger with Telenor.

Pakistan Telecommunication Company Limited (PTCL), the leading telecom and ICT services provider in the country, has announced its financial results for Q1, 2025, ending March 31, 2025. The announcement was made during a Board of Directors meeting in Islamabad.

In Q1 2025, PTCL Group achieved double-digit revenue growth of 22%. The Group’s robust performance solidifies its position as Pakistan’s top integrated telecom service provider.

Financial Highlights:

•             PTCL Group’s revenue grew by 22% YoY to Rs 61.8 billion, enabled by robust growth in consumer segments, notably fixed broadband, and mobile data, complemented by significant contributions from enterprise and carrier wholesale services.

•             PTCL continued its upward growth trend, posting a 14% YoY increase in revenue to Rs. 29.6 billion, contributing primarily to 70% revenue growth in Flash Fiber and 23% revenue growth in Business Solutions versus the same quarter last year.

•             PTCL’s Enterprise Business grew by 23% as compared to same period last year, while Carrier and Wholesale business continued its growth momentum and achieved 24% overall revenue growth. International segment revenue has increased by 8% as compared to same period last year.

•             PTCL reported an operating profit of Rs 4.1 billion, representing a 40% increase compared to the same quarter of 2024 and Net Profit reached Rs 1.2 billion in Q1 2025

•             PTML’s (Ufone 4G’s) revenue grew by 21% compared to Q1, 2024. PTML posted an increase in operating profit by 11% during the quarter as compared to last quarter of 2024 driven by an enhanced customer experience and increased digital engagement through a range of data-centric products and strategic partnerships.

•             U Microfinance Bank (UBank) recorded a 77% YoY increase in revenue.

Operational Highlights:

As the national telecommunications carrier and the largest connectivity provider in Pakistan, PTCL Group is taking the lead in bringing the vision of a ‘Digital Pakistan’ to reality. PTCL & Ufone 4G is providing critical infrastructures and connectivity to initiate this movement. PTCL Group is at forefront of providing innovative services and solutions, through a rich array of offerings.ptcl internet device

PTCL’s aggressive FTTH expansion has fueled its remarkable topline growth. Building on last year’s momentum, PTCL prioritized on delivering the fastest and most reliable internet services through its flagship ‘Flash Fiber’ that remained No. 1 FTTH service in Pakistan. During Q1, 2025, Flash Fiber proudly surpassed 700K customers across the country leading to a YoY revenue growth of 70%.

In Q1 2025, PTCL remained at the forefront with digital transformation by introducing industry-first WhatsApp-based bill payment solution in Pakistan, offering customers unmatched convenience, security, and accessibility in paying their monthly PTCL Bills. The initiative is a significant step towards advancing ‘Digital Pakistan’.

The business services segment strengthened its market dominance and maintained its leading position in IP Bandwidth, Cloud, Data Center, and other ICT services segments.

Ufone’s impressive 4G expansion reflects its strong commitment to customer satisfaction and digital innovation. Ufone 4G continued to enrich customer experiences with pioneering products and offers in Q1’25, including:

•             More Data, More Fun with Super 5: Ufone 4G’s ‘Super 5’ package, a comprehensive connectivity solution designed for groups of up to five individuals, enabling seamless sharing of resources that provide uninterrupted communication and internet access for families, friends, or small teams.

•             PTML’s digital brand is redefining the traditional telecom experience with key achievements including 183% growth in subscribers.

Social Impact:

During Q1, 2025, PTCL Group continued its commitment to giving back to the community through various initiatives by uplifting lives and transform society through its social impact platform ‘Dil Se’, designed to promote digital inclusion, compassion, and innovation.

Women Empowerment (Ba-Ikhtiar Program)

In this quarter, under the flagship Social Impact initiative, Dil Se ‘Ba-Ikhtiar’, the talented entrepreneurs enrolled in the program designed Peshawar Zalmi’s kit. More than just a jersey, it stands as a symbol of strength, resilience, and empowerment. The road ahead will include expansion in more than 20 districts and facilitate startup registrations with seed funding to scale their businesses.

Women Career Summit by Pink Collar

PTCL Group partnered with Pink Collar to facilitate Pakistan’s inaugural Women Career Summit in Lahore. The summit drew 30 leading corporates conducting recruitment drives. The summit also provided Ba-Ikhtiar beneficiaries a valuable platform to connect with industry leaders and inspire fellow entrepreneurs.

Inclusivity and Accessibility

PTCL Group partnered with ConnectHear on a GSMA project, providing free data for the ConnectHear app and enabling deaf individuals to access interpreters and receive early warning video messages during disasters.