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Shareholders attend PTCL’s 16th Annual General Meeting

Pakistan Telecommunication Company Limited (PTCL) held its 16th Annual General meeting here today, which was attended by a large number of PTCL shareholders.

Chairman, PTCL Board of Directors, Mr. Saeed Ahmed Khan chaired the meeting, which appraised the shareholders of the company’s ongoing efforts and achievements attainted during the past financial year.

“Despite the economic challenges faced by Pakistan, PTCL has remained strong in emerging segments of broadband both in wire-line as well as wireless and other corporate services,” said Mr. Khan in his opening remarks. “PTCL continued to elevate its growth trend in the segment of broadband with 61% growth in customers and 77% growth in respective revenue segment.”

The meeting approved the reappointment of the company’s auditors, as well as the disposition of PTCL’s undertaking in the Maskatya Communication Pvt Ltd (MAXCOM) – a wholly owned subsidiary of the company – by way of voluntary winding up.

The meeting also approved the interim cash dividend of 17.5 per cent (Rs1.75 per share) already declared and paid to the shareholders for the year ending June 30, 2011.

Chairman PTCL BoD assured the shareholders that all strategies planned and implemented by the board will be aimed towards utilizing PTCL’s full potential and resources to the maximum to achieve the corporate objectives with competence and determination in the times to come.

An interactive session was also held with the shareholders, in which questions were answered by the Chairman and senior management officials of PTCL.

“We fully recognize the fact that PTCL is a publicly listed company”, said President and CEO PTCL, Mr. Walid Irshaid. “Our shareholders’ sustained confidence and trust in PTCL is a result of our continued commitment to ensuring transparent and seamless flow of information, as well as friendly services.”

During the year under review PTCL remained a pioneer in bringing state-of-the-art telecom services based on revolutionized technologies to Pakistan. For the first time in Pakistan, PTCL acquired VDSL2 Bonding technology, under the brand name ‘Ultra Net’, enabling delivery up to 50 Mbps bandwidth on existing copper lead.

PTCL remains the largest and fastest growing broadband service provider in Pakistan. The DSL customer base registered an increase of 50% with 95% market share.

Other achievements include ‘Business in a Box’ a small gateway device that provides broadband internet connection sharing; Firewall security; VPN connectivity; PTCL ‘EVO’ that has won the ‘Consumer Choice Award 2010’ in the category of Best wireless Broadband by Consumers Association of Pakistan; the launch of Videocon for the fixed line users; and the launch of 3G EVO TAB with the power of android and freedom of 3G EVO.

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