PIBTL completes repayment of outstanding loan worth Rs5.49bn

MG News | June 20, 2022 at 02:45 PM GMT+05:00

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June 20, 2022 (MLN): Pakistan International Bulk Terminal Limited (PIBTL) has successfully completed the transaction for repayment of outstanding loans from local banks worth Rs5.49 billion and refinancing the same at economical terms, the company filing on PSX showed today.

To recall, the Board of Directors of PIBTL in its meeting held on August 24, 2021, approved the repayment of outstanding loans from local banks, subject to completion of contractual and legal formalities.

PIBT has been set up for handling and delivering coal to Power and Cement plants by utilizing the rail, road, and sea networks. PIBT has become an integral part of the coal supply chain up to the entry gates of power and cement plants located across the country.

At the time of writing, the stock is being traded at Rs6.15, up by 50paisa or 0.82% DoD.

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