PAKL discharges entire obligation under Bank Al Baraka settlement agreement

MG News | July 06, 2026 at 02:44 PM GMT+05:00

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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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