Islamabad (Web Desk): The Ministry of Information Technology said that Pakistan Telecommunication Limited (PTCL) owed about Rs 40 billion in pensions to its retired employees.

During Senate Standing Committee on IT, the ministry revealed the payment of Rs 40 billion outstanding pensions to the employees would bankrupt the company.

Ministry of IT Secretary Rizwan Bashir said, “We cannot ask the PTCL to pay such a huge amount, which is almost half the worth of the telecom company.”

Earlier, Islamabad High Court (IHC) had ordered the PTCL to bring the pension of about 40,000 of its retired employees on a par with the pensioners of other ministries and government departments.

The court last year ordered the PTCL management to increase the pension of its retired employees in accordance with the policy of the federal government but the PTCL management filed an intra-court appeal against this order.