Pakistan Cables approves manufacturing facilities at new premises to reduce overheads

MG News | January 28, 2021 at 02:09 PM GMT+05:00

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January 28, 2021 (MLN): The Board of Directors of Pakistan Cables Limited (PCAL), in its meeting held on 28 January 2021, has approved the consolidation of the Company's manufacturing facilities at the new premises located at Plot No. K-23, S.I.T.E., Nooriabad that will enable the company to reduce the overheads resulting from operating two factories and will streamline the Company's finances and operations.

As per notice sent to PSX, the Directors have also approved a comprehensive financing plan of Rs. 6.55 Billion for this purpose, which includes securing bank debts, and have also approved the sale of the existing premises located in S.I.T.E, Karachi.

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