PTCL hit by Supreme Court ruling on pension liabilities

MG News | July 16, 2025 at 09:32 AM GMT+05:00

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July 16, 2025 (MLN): The Supreme Court of Pakistan has dismissed Pakistan Telecommunication Company Limited (PTCL)'s review petition regarding pensionary benefits.

The company has been directed to acknowledge its continuing financial liability and reflect it in its records in line with applicable accounting and corporate laws.

As per a notice issued to the Pakistan Stock Exchange (PSX) under Rule 5.6.1 of the Rule Book and Section 96 of the Securities Act, 2015, the apex court’s decision on July 10, 2025, clarified that government increases are admissible only for civil servants.

Nonetheless, PTCL has been instructed to shoulder its obligations toward pensioners.

In compliance with the court’s verdict, PTCL is currently verifying the data of pensioners, a process the company has described as complex and time-consuming.

Upon completion, the data will be shared with the Pakistan Telecommunication Employees Trust (PTET) to determine PTCL’s required contribution. The financial impact will be incorporated into the company’s statements once finalized.

Market participants and TRE Certificate holders have been advised to take note of this development.

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