PTCL Appoints Captain (Retd.) Muhammad Mahmood As Chairman.

Pakistan Telecommunication Company Limited (PTCL) announced on Monday the appointment of Captain (Retd) Muhammad Mahmood as its new chairman. This news was disclosed by PTCL to its main bourse.

As per PTCL's filing, Mr. Hassan Nasir Jamy has officially left his position as chairman effective April 1st, 2024 and Captain Muhammad Mahmood (Retd) has been appointed in his place. Captain Mahmood currently holds an additional Secretary position within the Ministry of IT & Telecom.

PTCL also updated its Board of Directors list, with Captain (Retd) Muhammad Mahmood taking on the role of Chairman alongside other directors:

Abdulrahim A. Al Nooryani, Ahad Khan Cheema, Imdad Ullah Bosal, Jawad Paul Khawaja, Mikhail Gerchuk, Mohamed Karim Bennis, and Brooke Marie Lindsay all attended.

Khalid Murshed This announcement follows on the heels of news from Pakistan's Competition Commission of Pakistan (CCP) that their review process for PTCL's acquisition of Telenor Pakistan remains underway.

On March 20, 2024, the CCP requested additional information to complete its due diligence process; PTCL lawyers have yet to provide the requested details.

Once all necessary documents have been provided to the CCP for review, their review process should take 30 working days. Telenor by PTCL's acquisition is currently one of 21 applications being processed by their merger department at this time.

As the new leadership of PTCL takes the reins and the acquisition process moves forward, stakeholders await developments of this significant merger deal in telecom.

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