PAKL discharges entire obligation under Bank Al Baraka settlement agreement
MG News | July 06, 2026 at 02:44 PM GMT+05:00
July 06, 2026 (MLN): Pak Leather Crafts Limited (PSX:PAKL) has successfully
discharged its entire financial obligation under the settlement agreement
executed with Bank Al Baraka Pakistan Limited on 21 November 2023, with the
final installment, in accordance with the agreed payment schedule, paid on 25
June 2026.
The company said this was further to the Directors' Report forming part
of the Half-Yearly Financial Statements for the period ended 31 December 2023.
Consequent upon full and final payment to the bank, the remaining legal
and regulatory formalities, including the vacation of charge with the
Securities and Exchange Commission of Pakistan (SECP), will be completed, the
company said, adding that proceedings for out-of-court settlement shall be
undertaken on the next date of hearing.
The aforementioned information was
disseminated through a notification to Exchange.
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