Ufone losses not govt’s concern

While acknowledging that the government holds the ownership of the Pakistan Telecommunication Company Ltd (PTCL) with the majority of shares, IT and Telecom Minister Shaza Khawaja has admitted that subsidiary Ufone is not sharing its loss-making balance sheet with the government. “Ufone is operationally under Etisalat. Therefore, the government is not responsible for its constant loss-making,” she said while talking to the media at a conference titled ‘5G and Beyond: Shaping the Future of Connectivity’. The minister was asked about the reasons for continuous losses faced by the state-owned Ufone while other telecoms, including Zong and Jazz, witnessed a significant jump in profits in 2024.