Merit Packaging to sell off land, factory in Karachi

MG News | January 10, 2024 at 10:00 AM GMT+05:00

0:00

January 10, 2024 (MLN): The Board of Directors (BoD) of Merit Packaging Limited (PSX: MERIT) has approved the disposal of its land and factory building located at Korangi Industrial Township, Karachi, the company informed through a notice sent to the PSX today.

The BoD also discussed the feasibility of entering into a lease/rental agreement for the same land and factory with the purchaser.

To this end, an extraordinary general meeting of shareholders will be called to seek approval and assent of the general body of the company in consonance with the provisions of the Companies Act, 2017, the notice said.

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