| 1998 Annual Report - Shareholders Letter Dear Shareholder:
I have the pleasure, on behalf of the Board of Directors of
the Palestine Telecommunications Company, P.L.C. to present this Annual Report for our
second year of operation, 1998.
 Through the combined efforts of the PalTel employees
and partners, valued shareholders, and strength and resolve of the Palestinian people, we
are fulfilling what we deem a sacred and far-reaching undertaking. Our mission, from the
outset, is anchored in the firm belief of providing world-class telecommunications
services to the people and businesses of Palestine. Our endeavor is to integrate Palestine
globally and link it to the world within the overall challenges to peace and prosperity.
The enormity of the mission of having to provide
“Telecommunications for All” is well underway as we are overcoming the obstacles
in our path. The support of the investor community has contributed to reaching these goals
and achieving positive results.
As we start our third year of operations, we renew our
commitment to achieving the full independence of the Palestinian telecommunications
sector; as we invest the required financial and human resources, our dedication and
ambition are fueled by the knowledge that our efforts contribute directly to the growth
and stability of the Palestinian economy.
Every effort we make today toward the development of the
Palestinian telecommunications infrastructure — cellular, fixed line, data
communications, pay telephone services — will bear fruit in the future. We commit
ourselves to implementing our growth-oriented strategic plan focused on continuosly
providing technological advancements in infrastructure and services.
This 1998 Annual Report provides a detailed summary of the
company’s achievements and unfolds the important story of the creation of an
independent telecommunications network for the Palestinian people. It highlights the new
service to be offered by PalTel and outlines the most efficient means to meet customer
demands, both at present and in the future. This Annual Report underscores PalTel’s
advanced technological capabilities and shows the readiness of our current systems,
administration and human resources base to meet the challenge. Due regard and special
recognition is owed to our management for the focus they bring to PalTel and the effort
they exert in meeting the tremendous need required for training and introducing new
skills, recognizing the receptiveness of the men and women of PalTel and their desire to
contribute to our success.
Special thanks and appreciation are extended to the
Palestine National Authority and especially to the Ministry of Post &
Telecommunications (MoPT) for their continued support.
Finally, without the support and commitment of
PalTel’s shareholders, what has been accomplished and what will be accomplished would
not have been possible. During this year and beyond, PalTel will strive to surmount the
challenges both in quality and focus, never underestimating the socio-economic
consequences of our endeavor.
Sabeih Taher Al-Masri
Chairman |
Eng. Hatem Hafez
Al-Halawani Al-Tamimi
President & Chief Executive Officer |
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