Pakistan opens telecoms door to foreigners but locks door on TV market

摘要

On Oct.12, 1999, Pakistan's Chief of Army Staff, General Pervez Musharraf, staged a successful military coup to become the country's chief executive, but since then the government has remained pretty much handcuffed by its huge foreign debt. For the past 14 years, the government has encouraged investment in telecommunications, and this campaign gained new support in 1996 with passage of the new Telecom Act. Now the government, with an encroaching IMF deadline, has put the privatization of full-service provider Pakistan Telecommunications Company (PTCL) back into the international spotlight. But while a controlling stake in PTCL is appetizing - the company has virtually no debt and is cash flow positive - it so far appears that only "second-tier" potential investors have lined up for a piece of the telco.