Veon accepts Pakistani-UAE consortium’s offer for sale of telecom towers in Pakistan

The undated file picture shows VEON group's Jazz headquarter in Islamabad, Pakistan. (Photo courtesy: Wikipedia)
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Updated 20 December 2022
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Veon accepts Pakistani-UAE consortium’s offer for sale of telecom towers in Pakistan

  • If it materializes, the sale of towers would be Pakistan’s largest deal since 2011, valued at around $600 million
  • Veon says in transition toward ‘asset-light model’ for its businesses, discussions for Pakistan sellout ongoing

KARACHI: Veon, the largest wireless operator in Pakistan, has accepted an offer for the sale of its telecom towers in the South Asian country by a consortium comprising UAE-based TASC Towers Holding Limited and Pakistan’s TPL REIT Management Company, officials said. 

The TPL REIT Management Company (RMC), along with UAE-based mobile telecom tower operator TASC Towers, submitted a bid in November for the acquisition of the Telecom Tower Infrastructure Company, which owns and manages around 10,500 operating towers in Pakistan.

“Parent of one of the largest Telecom Tower operators in Pakistan, has conditionally accepted the offer... for acquisition of their subsidiary (Telecom Tower Infrastructure Company) which owns and manages more than 10,500 telecom towers in Pakistan,” the TPL said in a stock filing on Tuesday. 

If it materializes, the sale of towers would be Pakistan’s largest deal since 2011, valued at around $600 million, according to Bloomberg. 

Veon on Monday said it was in transition toward an “asset-light model” for its business and the discussions for the Pakistan sellout were still ongoing. 

“In line with its strategy, Veon and its operating companies are in transition toward an asset-light model for its businesses and the company has previously indicated its interest in selling its towers business in Pakistan,” a Veon spokesman said in a written reply to an Arab News query. 

“The discussions are still ongoing and at this time, there is no further update that Veon can make on this process.”

In December 2021, Veon announced the successful conclusion of the sale of its Russian tower assets to Service-Telecom for $957 million. The company sold 15,000 towers in Russia, while it still holds around 30,000 towers in various countries, including Pakistan, Bangladesh, Uzbekistan. 

Veon had successfully concluded in March 2021 the acquisition of 15 percent minority stake in the Pakistan Mobile Communications Limited (PMCL), the operating company of Pakistani mobile operator Jazz, from the Dhabi Group for $273 million. 

With 38.55 percent market share in Pakistan, the PMCL has become the largest mobile phone operator in the country, followed by Telenor that holds 25.2 percent market share, according to the Pakistan Telecommunication Authority (PTA). 

Veon, however, has categorically denied considering the sale of other assets apart from its tower business in Pakistan. 

“No other Veon business in Pakistan has been referenced in relation to the sale, and the purpose of the sale (of towers) is to pursue the asset-light business model that the company has set out previously,” the Veon spokesman told Arab News.

In September, TPL, a Pakistani company that operates diversified businesses including GPS tracking and real estate management, announced forging a strategic partnership with TASC Towers for the acquisition of the telecom tower company.

Founded in 2017, TASC Towers Holding Limited owns, builds and operates mobile telecom towers in four countries, including in the UAE. The company has deployed or managed over 15,000 towers.

In the largest such fund-raising in Pakistan, TPL RMC is planning to raise $500 million through an investment trust, expecting 60 percent funds from foreign investors. 

The company operates as TPL Investment Management in the Abu Dhabi Global Market.


Pakistan to open new maritime trade corridors to tap East African market — minister

Updated 19 April 2025
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Pakistan to open new maritime trade corridors to tap East African market — minister

  • The East African Community is an eight-nation bloc with a collective GDP of around $345 billion
  • The first phase of the plan will see the launch of direct shipping line between Karachi and Djibouti

KARACHI: Pakistan plans to launch new maritime trade corridors to strengthen economic ties with the East African Community (EAC), Maritime Affairs Minister Junaid Anwar Chaudhry said on Saturday, describing the move as a strategic push to boost exports and regional connectivity.
The initiative aims to establish direct sea links with EAC member states, which include Kenya, Uganda, Tanzania, Rwanda, Somalia, Burundi, South Sudan and the Democratic Republic of the Congo. The eight-nation bloc has a combined population of over 500 million and a collective GDP of around $345 billion.
“Our goal is to provide Pakistan’s industrialists, exporters and investors with a direct and efficient route to tap into the lucrative East African market,” Chaudhry said in a statement. “This strategic initiative will not only bolster our export potential but will also contribute to Pakistan’s economic growth by opening new avenues for trade and investment.”
He informed the first phase of the plan will involve the launch of a direct shipping line between Karachi Port and Djibouti, a key logistics hub offering access to neighboring markets such as Somalia and Ethiopia. However, he did not specify the exact launch date for the initiative.
The second phase involves the development of Gwadar Port into a long-term export hub focused on African trade.
An inter-ministerial consortium will be established to oversee implementation, coordinating efforts across trade, finance, diplomacy and technology. The government says the goal is to ensure Pakistani businesses are equipped to compete effectively in East Africa, particularly in agriculture, textiles, pharmaceuticals and manufacturing.
“By enhancing trade routes and improving connectivity, Pakistan is positioning itself as a leading player in the expanding East African market,” Chaudhry added.


Pakistan cricket chief says women’s team will not travel to India for 2025 World Cup

Updated 19 April 2025
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Pakistan cricket chief says women’s team will not travel to India for 2025 World Cup

  • Pakistan women’s team delivered stellar performance in the World Cup Qualifiers, winning all matches
  • Mohsin Naqvi says matches involving Pakistan should be held at a neutral venue during the tournament

ISLAMABAD: Pakistan’s cricket chief and interior minister Mohsin Naqvi said on Saturday the national women’s team would not travel to India for the 2025 ICC Women’s Cricket World Cup, reiterating Islamabad’s position that matches involving Pakistan should be held at a neutral venue under a hybrid model.
Naqvi’s remarks came shortly after Pakistan concluded their ICC World Cup Qualifier campaign unbeaten, sealing their spot in the tournament with a commanding seven-wicket victory over Bangladesh in Lahore.
“It is up to India to decide where the matches will be held since they are the hosts,” he told reporters at the Lahore City Cricket Association Ground. “Our team is ready to play wherever, but it will not travel to India.”
The hybrid model was implemented earlier this year during the ICC Men’s Champions Trophy hosted by Pakistan, allowing India to play their matches at neutral venues.
During the event, India played their matches in Dubai, citing security concerns, while other participating teams traveled to Pakistan.
The arrangement also drew criticism from several teams, who felt disadvantaged by India’s familiarity with the playing conditions in Dubai.
Pakistan women’s team have delivered a stellar performance in the World Cup Qualifiers, winning all five of their matches.
The 2025 ICC Women’s Cricket World Cup is scheduled to be held from September 29 to October 26. With Pakistan’s qualification, the ICC will need to determine a neutral venue for their matches, adhering to the agreed-upon hybrid model.


Five suspected separatists killed in counterterrorism operation in southwest Pakistan

Updated 19 April 2025
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Five suspected separatists killed in counterterrorism operation in southwest Pakistan

  • A CTD official says the intelligence-based raid targeted BLA militants in Balochistan’s Duki district
  • Chief Minister Sarfraz Bugti praises the action, vows to foil conspiracies to destabilize the province

QUETTA: The Counter Terrorism Department (CTD) in southwestern Balochistan killed five suspected militants in an intelligence-based operation in the Duki district of the province on Saturday, confirmed one of its officials, as the region continues to witness a spike in separatist violence.
The raid was conducted by CTD Balochistan with support from other law enforcement agencies in the Dhabar area of Duki. According to the CTD official, the slain militants were affiliated with the banned Baloch Liberation Army (BLA), a separatist group that has frequently targeted security forces and state infrastructure in the province.
“The latest action against militants was carried out on an intelligence basis, and the bodies of the militants were shifted to the District Headquarters Hospital Duki,” the CTD official said on condition of anonymity while confirming the number of the dead militants.
The BLA was designated a terrorist organization by the United States in 2019 and has long led a separatist insurgency in the resource-rich region.
Militants affiliated with the group have also attacked Chinese nationals and projects linked to the multibillion-dollar China-Pakistan Economic Corridor (CPEC).
Following the raid, Balochistan Chief Minister Sarfraz Bugti praised the CTD action, pointing out that the state would continue to confront militancy with full force.
“Every conspiracy to destabilize Balochistan will be foiled,” he said in a statement issued by his office, adding that any facilitators of such armed separatist groups would also be brought to justice.
Balochistan government spokesperson Shahid Rind described the operation as part of the ongoing counter-insurgency efforts in the province.
Balochistan has seen a spike in separatist violence in recent years. Last month, BLA militants hijacked a passenger train in the Bolan district, holding hundreds of passengers hostage for about 36 hours.
Duki, the area where the CTD operation took place, has also been prone to violence. In October last year, at least 21 miners were killed in an attack in the area, where gunmen used rocket launchers and grenades to storm coal mine facilities. Pakistan’s army chief General Asim Munir vowed this week to defeat separatist groups in Balochistan, saying such elements would never succeed in their efforts to disintegrate the country.
Separatist militants accuse the government and military of exploiting Balochistan’s natural resources, but the authorities maintain the Pakistani state has been investing in infrastructure and development to bring stability and growth to the province.


PIA to launch first direct Lahore-Baku flight on Sunday amid push for regional connectivity

Updated 19 April 2025
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PIA to launch first direct Lahore-Baku flight on Sunday amid push for regional connectivity

  • The announcement was made at a roadshow organized in Lahore ahead of the launch
  • The new route is expected to boost tourism, business travel between the two countries

KARACHI: Pakistan International Airlines (PIA) will begin weekly direct flights from Lahore to Baku on Sunday, the national carrier said, marking its latest step to expand travel links amid Islamabad’s push for deeper connectivity with Central Asian states.
The move comes as Pakistan strengthens diplomatic and trade ties with Azerbaijan, a key partner in its broader regional outreach. The new route is expected to boost tourism, business travel and cultural exchange between the two countries.
“PIA will start weekly flights from Lahore to Baku from Sunday, April 20,” the airline said in a statement on Saturday. “The first flight to Baku will depart tomorrow morning, carrying 174 passengers.”
The announcement was made at a roadshow organized in Lahore ahead of the launch, attended by travel agents, tour operators and tourism industry stakeholders.
PIA officials briefed participants on the airline’s expansion plans and encouraged greater collaboration to promote regional travel and tourism.
“Baku is rapidly emerging as one of the world’s leading tourist destinations, known for its beautiful cityscape, culinary scene and rich religious and cultural heritage,” the official PIA statement continued, adding that Lahore would see more international destinations added in the near future.
The new flight service is seen as part of Pakistan’s ongoing quest to improve air connectivity with countries in Central Asia, where it has been seeking to expand trade and diplomatic engagement in recent years.


Pakistan deputy PM announces understanding with Kabul to prevent cross-border militancy

Updated 19 April 2025
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Pakistan deputy PM announces understanding with Kabul to prevent cross-border militancy

  • Ishaq Dar says Pakistan is trying to ensure the return of Afghan nationals ‘with dignity and respect’
  • He also announces steps to facilitate Afghan transit trade, demands exchange of trade delegations

ISLAMABAD: Deputy Prime Minister and Foreign Minister Ishaq Dar on Saturday announced a joint understanding between Pakistan and Afghanistan not to allow their soil to be used against each other while addressing a news conference toward the end of his day-long visit to Kabul.
Dar’s visit to the neighboring country came amid surging militancy in Pakistan, which Islamabad blames on the Tehreek-e-Taliban Pakistan (TTP) and other militant factions. Pakistan has frequently accused the Afghan Taliban in the past of providing these armed groups sanctuaries and facilitating their cross-border attacks, allegations that Kabul has repeatedly denied.
The deputy prime minister’s visit to Kabul also took place at a time when Pakistan has intensified its campaign to deport “illegal immigrants,” mostly Afghan nationals, which it blames for being involved in suicide attacks and militancy in the country.
The deportation drive has further soured ties between the two nations, prompting the Afghan authorities to express “deep concern” their forced repatriation during Dar’s trip to Kabul.

“We have requested our hosts that we must work together for the development of this region, for its betterment and for establishing peace and stability here,” the deputy prime minister said while addressing the news conference. “For that, we will not allow our land or our soil to be used by anyone for any wrongful activity inside Afghanistan, and we kindly request you to do the same.”
“Both countries must strictly deal with such elements,” he continued. “Neither side should allow its territory to be used for any activity against the other, whether it concerns security or terrorism.”
Dar added in case of any militant violence, both countries “will be responsible to take firm action against such elements within our respective countries and stop them.”

This handout photograph taken on April 19, 2025 and released by the Pakistan’s Ministry of Foreign Affairs shows the country’s Foreign Minister and Deputy Prime Minister Ishaq Dar (9L) speaks during a meeting with Acting Afghan Foreign Minister Amir Khan Muttaqi (8R) and other Taliban government officials in Kabul. Dar arrived in Afghanistan on April 19 for a one-day visit to meet senior Afghan Taliban officials, including Prime Minister Hasan Akhund, after Pakistan expelled more than 85,000 Afghans in just over two weeks. (Photo courtesy: Handout/MOFA)

The deputy prime minister also announced a number of measures aimed at facilitating Afghan transit trade, saying they would be implemented by June 30. “Exchange of trade delegations between the two countries is also vital at this stage to increase bilateral trade and ensure mutual prosperity,” he said.
Addressing Afghan concerns over the deportation, he noted Pakistan was trying to ensure that those being sent back were treated with “respect and dignity.”

Afghanistan’s acting Prime Minister Mullah Muhammad Hassan Akhund (right) meets Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar in Kabul, Afghanistan, on April 19, 2025. (Photo courtesy: Handout/MOFA)

He said the interior ministry would issue a notification within 48 hours providing phone numbers, WhatsApp contacts and an email address to register any complaints from Afghan nationals returning to their country.
Denying any instructions to block the sale of property by Afghans, he said that those returning to Afghanistan were also allowed to take their personal belongings back with them.

Pakistan Foreign Minister and Deputy Prime Minister Ishaq Dar (4R) shaking hands with Afghan government officials upon his arrival in Kabul. (Photo courtesy: Handout/MOFA)

Earlier in the day, before departing for Kabul, Dar acknowledged recent “coldness” in bilateral ties but said security remained a priority.

“I believe the security of Pakistan, its people, their lives and properties, is very important,” he told state-run Pakistan Television. “So one of our concerns is regarding terrorism, which we will discuss.”
During the visit, he met with senior Afghan officials, including acting Prime Minister Mullah Muhammad Hassan Akhund, Deputy Prime Minister Mullah Abdul Salam Hanafi and Foreign Minister Amir Khan Muttaqi.
According to Pakistan’s foreign office, the discussions focused on security, trade, transit and regional connectivity, with both sides reaffirming their commitment to maintaining high-level engagement and enhancing people-to-people contact.