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.


Egyptian president has accepted invitation for official visit to Pakistan — PM Sharif

Updated 20 May 2025
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Egyptian president has accepted invitation for official visit to Pakistan — PM Sharif

  • Pakistan and Egypt have cordial relations and both countries have resolved in recent years to enhance their bilateral trade
  • PM thanks President El-Sisi for Egypt’s proactive diplomacy that helped Pakistan, India reach a truce after this month’s standoff

ISLAMABAD: Egyptian President Abdel Fattah El-Sisi has accepted an invitation to visit Pakistan, Prime Minister Shehbaz Sharif said on Tuesday, following a telephonic conversation between the two leaders.
Pakistan and Egypt have cordial ties and both countries have resolved in recent years to enhance bilateral trade by facilitating businessmen with visas, exchanging trade-related information and promoting private-sector contacts.
During their conversation, PM Sharif conveyed his profound gratitude to President El-Sisi for Egypt’s constructive role and proactive diplomacy that helped Pakistan and India reach a truce after a four-day standoff.
“Expressing satisfaction on Pakistan-Egypt relations, the prime minister highlighted the need to enhance bilateral trade and investment,” Sharif’s office said.
“The prime minister extended a most cordial invitation to the Egyptian president to undertake an official visit to Pakistan which was graciously accepted.”
Friendly ties between Pakistan and Egypt can be traced back to 1947, when the former gained independence and its founder, Muhammad Ali Jinnah, visited Egypt on the special invitation of King Fuad II.
In July last year, Pakistan’s then religious affairs minister Chaudhry Salik Hussain and Egyptian Ambassador to Pakistan Dr. Ihab Abdelhamid Hassan agreed to enhance cooperation between the two countries in religious education and other areas of mutual interest.
During the call on Tuesday, PM Sharif and President El-Sisi also discussed developments in the Middle East, particularly the situation in Gaza.
“The prime minister urged the international community to ensure consistent and timely delivery of badly needed humanitarian assistance to the people of Gaza,” Sharif’s office said.


Bangladesh T20 tour to Pakistan confirmed after India ceasefire

Updated 20 May 2025
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Bangladesh T20 tour to Pakistan confirmed after India ceasefire

  • Bangladesh were initially scheduled to play five T20 internationals from May 25
  • Conflict with India also forced Pakistan to reschedule its Twenty20 cricket league

KARACHI: Pakistan has confirmed that Bangladesh will go ahead with a Twenty20 tour after it was put in jeopardy following cross-border conflict with India earlier this month.
Bangladesh were scheduled to play five T20 internationals from May 25, but will instead play three matches from a date yet to be confirmed.
Earlier this month India and Pakistan clashed for four days — their worst conflict in decades — before a ceasefire agreement.
Pakistan was also forced to reschedule its Twenty20 league — the Pakistan Super League (PSL) — after a ten-day break.
The Indian Premier League — the world’s richest cricket tournament — was also interrupted.
The Pakistan Cricket Board (PCB) said negotiations with their Bangladesh counterparts were successful, after some touring players had raised security concerns.
“PCB chairman Mohsin Naqvi... convinced them of full security and the series now comprises three T20Is instead of five,” a board press release said.
All three T20Is will be played in Lahore, likely after the PSL final on May 25.


Heatwave forces early school closures in Pakistan’s largest province

Updated 20 May 2025
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Heatwave forces early school closures in Pakistan’s largest province

  • Class times have also been changed, with all educational institutes instructed to close two hours early at 11:30am
  • Pakistan, one of the most vulnerable countries to global warming, has been experiencing unusually high temperatures

LAHORE: Rising temperatures in Pakistan’s most populous province have forced the provincial government to close all private and public schools for summer vacations early, officials said on Tuesday.

Punjab province’s education minister Rana Sikander Hayat said summer vacations will now start from May 28 instead of June 1.

Class times have also been changed, with all educational institutes instructed to close two hours early at 11:30am “due to a constant heatwave,” a notification issued by the education department said.

Pakistan, one of the countries most vulnerable to the effects of global warming, has been experiencing unusually high temperatures after a particularly dry winter.

Temperatures soared to near-record highs for the month of April, reaching as high as 46.5 degrees Celsius (115.7 degrees Fahrenheit) in parts of Punjab.

An alert issued on Monday by the national meteorological agency forecast that northern parts of the province, currently in the grip of a heatwave, will see daytime temperatures rise “5 to 7C above normal.”

An Education Department representative told AFP the early closures were announced because of the weather.

“We had to move up the summer vacation schedule because of these heatwaves,” the representative said.

Schools in the province that serve tens of millions of children also closed for a week in May last year because of excessive heat, and for several weeks in November because of high levels of toxic smog that blanketed several cities.


Islamabad to send dossier to world powers urging action against Indian ‘aggression’

Updated 20 May 2025
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Islamabad to send dossier to world powers urging action against Indian ‘aggression’

  • India struck what it said were ‘terrorist camps’ in multiple Pakistani cities this month, leading to a four-day military conflict between the arch-foes
  • The dossier will be presented to foreign capitals by a high-level delegation tasked with effectively presenting Pakistan’s case before the world

ISLAMABAD: Pakistan will be sending a dossier, which outlines the chain of events in its military standoff with India this month, to world powers to urge them to hold New Delhi accountable for its “aggression and attacks on civilian population” in Pakistan.

The dossier will be presented to foreign capitals by a high-level delegation formed by Prime Minister Shehbaz Sharif last week. The delegation, led by former Pakistani foreign minister Bilawal Bhutto-Zardari, is tasked with effectively presenting Pakistan’s case before the world.

The document, seen by Arab News, contains details of an April 22 attack in Indian-administered Kashmir, India’s subsequent strikes against Pakistan and Islamabad’s response to them, the ensuing four-day military standoff, international media coverage, images of the attacked sites, and specifics of Pakistan’s countermeasures.

“Pakistan reaffirms its commitment to regional peace and stability and international community must hold India accountable for its aggression and attack on innocent women and children,” the dossier reads.

India blamed the April 22 attack that killed 26 people on Pakistan and on May 7, New Delhi attacked what it called “terrorist camps” in multiple Pakistani cities. Islamabad has denied complicity and called for an international probe into the assault.

The four-day military conflict came to a halt after United States (US) President Donald Trump announced a ceasefire on May 10, offering to help settle longstanding dispute between the two nations.

The Pakistani dossier says that India had repeatedly used “false-flag operations” and its immediate blaming of Pakistan for the attack raised “serious concerns about the integrity of its claims” as standard investigative procedures required time and forensic examination.

“The Pahalgam incident followed the same pattern of manipulation and manufactured provocation,” the dossier says, noting that Pakistan sought evidence from India and proposed a joint investigation.

“However, these proposals were not only rejected by India but India also continued to attack civilians inside Pakistan.”

Members of Pakistan’s high-level delegation, tasked with visiting London, Washington, Paris and Brussels, described this outreach to the international community as “absolutely imperative.”

“The region stands at a key inflection point in the wake of India’s unprovoked aggression and its egregious reshaping and deliberate distortion of facts as active state-sponsored disinformation,” Senator Sherry Rehman, a member of the Pakistani delegation, told Arab News.

“We have obviously prepared a detailed dossier that documents not just recent violations but also India’s longstanding record of state-sponsored terrorism inside Pakistan,” she said, adding that Pakistan has chosen diplomacy over escalation.

“This dossier is not a political tool, it is a factual record of aggression and hybrid warfare, including India’s unilateral suspension of the Indus Waters Treaty, which constitutes a grave violation of international law and a weaponization of water against civilian populations.”

Rehman said the aim of the delegation will be to reinforce Pakistan’s position as a responsible state, seeking peaceful resolution “through diplomacy and facts, not aggression or media manipulation.”

“It is also to seek global support for de-escalation frameworks, including calls for renewed dialogue on Kashmir as a flashpoint, and to safeguard regional water security through multilateral oversight,” she added.

India suspended on April 23 the World Bank-mediated Indus Waters Treaty of 1960 that ensures water for 80 percent of Pakistani farms, saying it would last until “Pakistan credibly and irrevocably abjures its support for cross-border terrorism.”

Separatist groups have waged an insurgency in Indian-controlled Kashmir since 1989, demanding independence or a merger with Pakistan. New Delhi accuses Pakistan of backing the militants, Islamabad denies it and says it only supports Kashmiris diplomatically and politically.

Jalil Abbas Jillani, another Pakistani delegate and a former foreign secretary, said it is extremely important for Pakistan to share its concerns over the aggressive Indian behavior, genesis of the Kashmir dispute, and violations of the Indus Waters Treaty and its implications on peace and stability in the region.

“The delegation will also apprise the international community of the support being extended by India to terrorist outfits like BLA [Baloch Liberation Army] and TTP [Tehreek-e-Taliban Pakistan], etc,” he told Arab News.

New Delhi denies supporting the BLA, TTP or any such groups in Pakistan. India has also sent multiple all-party delegations abroad to extend its diplomatic outreach over the recent conflict.

Former Pakistani diplomats and experts called the submission of the dossier a “right approach” by Pakistan to brief the world about Indian actions.

“Pakistan’s recent step of submitting yet another dossier is again a step in the right direction as India has been selling its narrative on false grounds,” former Pakistani ambassador to the United Kingdom Nafees Zakaria told Arab News.

He said there was no reason for the international community not to pay due attention to Pakistan’s “evidence-based dossier” against India.

“Western world led by the US, which sees India as its lynchpin in the region as a counterweight to the rising powers China and Russia, has been looking the other way, which allowed India to indulge in criminal activities and subversion with impunity,” he said, adding that Pakistan must present its narrative and rigorously pursue it to ensure that India is “called to account and pays for its crimes.”

Former foreign secretary Aizaz Ahmed Chaudhary said Pakistan needed to convey its perspective as India had hardly presented any evidence to the world to support its accusations, which resulted in the military standoff.

“It should be a proactive agenda on our part, meaning we should compile dossiers on India’s involvement in terrorism in Pakistan, evidence for which is now plentiful,” he told Arab News.

He said India had better accepted the offer made by President Donald Trump to sit and talk with Pakistan to resolve the Kashmir dispute.

“The sooner India does that the better it would be for it and for the peace in the region,” he added.

Bitter rivals India and Pakistan have fought three wars, including two over the disputed region of Kashmir, since gaining independence from British rule in 1947. Both claim the Himalayan territory in its entirety but rule it in part.


Pakistan army chief General Asim Munir promoted to field marshal

Updated 20 May 2025
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Pakistan army chief General Asim Munir promoted to field marshal

  • Munir is only the second military officer in Pakistani history to be promoted as field marshal, country’s highest military rank
  • Analysts say it is likely he will also retain army chief’s chair, influence in government affairs will ‘significantly increase’

ISLAMABAD: Pakistan has elevated Army Chief General Asim Munir to the rank of field marshal, Prime Minister Shehbaz Sharif’s office said on Tuesday, making him only the second general in the country’s history to rise to that rank.

The development comes a little over a week after Pakistan declared victory in a four-day standoff with India that saw the arch-rivals trade fighter jet, missile, drone and artillery strikes, with dozens killed on both sides before a ceasefire was reached on May 10.

“The Government of Pakistan approved the promotion of General Syed Asim Munir (Nishan-e-Imtiaz Military) to the rank of Field Marshal for ensuring the security of the country and defeating the enemy on the basis of the superior strategy and courageous leadership in Operation Bunyan-um-Marsoos on behalf of Pakistan,” PM Sharif’s office said in a statement released after a meeting of the federal cabinet.

In a statement issued by the military, Munir said he was dedicating his promotion to the people and armed forces of Pakistan.

“This honor is the trust of the nation, for which millions of Asims can be sacrificed,” he was quoted as saying.

Munir’s promotion to field marshal’s rank is the first since Pakistani dictator General Ayub Khan made himself a field marshal in 1965.

Field marshal is a ceremonial five-star rank that usually signifies extraordinary leadership and wartime achievement. Security sources said it was likely Munir would also remain the army chief.

Munir started his job as army chief in November 2022. A parliamentary legal amendment extended his term to five years in November 2023, from the usual three years for the role of army chief.

The office of the army chief is arguably the most powerful position in Pakistan, where the military has ruled directly for nearly half of the country’s history. Even when not in power, the military and the army chief play an outsized role in political and foreign affairs and national security decision making. In recent years, the army chief’s public role in economic decision making and in seeking foreign investments has also grown considerably.

“Definitely, his [Gen. Munir’s] stature will be now higher in all forces and his influence in civil matters like government affairs will also significantly increase,” Lt. Gen. (retired) Naeem Lodhi, a former defense secretary, told Arab News.