Saudi Pak Consultancy reports over Rs200m in recoveries and settlements
MG News | November 03, 2025 at 02:56 PM GMT+05:00
November 03, 2025 (MLN): Saudi Pak Consultancy
Company Limited (PSX: SPCL), formerly Saudi Pak Leasing Company Limited, has
reported recoveries and settlements exceeding Rs200 million during the period
July 2024 to September 2025, marking a major turnaround.
After the Securities and Exchange Commission of Pakistan
(SECP) withdrew its liquidation notice, the company was allowed to shift its
focus from leasing to consultancy services.
The new certificate of incorporation for Saudi Pak
Consultancy Company Limited was issued on October 11, 2024.
According to the company’s progress report released on PSX, it
inherited all assets and liabilities of the former Saudi Pak Leasing Company
Limited and concentrated on recovering non-performing loans and leases, as well
as settling liabilities through cash recoveries.
During the reporting period, total recoveries stood at Rs59.491m,
while liability settlements amounted to Rs149.665m. Additionally, settlements
in progress were recorded at Rs355.197m.
Management noted that recovery efforts are being actively
pursued through legal proceedings and out-of-court settlements to strengthen
cash inflows and expedite the discharge of liabilities.
The report added that Board of Directors elections were
held on April 22, 2025, ensuring compliance with the Code of Corporate
Governance (COCG). The newly constituted board is now fully functional and
steering the company toward a new phase of business growth.
SPCL’s management has also explored multiple consultancy
avenues in partnership with both local and foreign entities, including the Committee
for Economic Policy and Cooperation (CEPEC), and anticipates favorable
outcomes in the current financial year.
The company’s Board and management expressed confidence that
the firm’s negative equity position will continue to shrink as recoveries
increase and liabilities are further reduced.
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