PKGP proposes renewal of loan of Rs 1bln to Lalpir Power and Rs 500mln to Nishat Hotels

MG News | February 24, 2021 at 05:37 PM GMT+05:00

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February 24, 2021 (MLN): The Board of Directors of Pakgen Power Limited (PKGP) has recommended the renewal of the loan of Rs 1 billion and Rs 500 mln extended to Lalpir Power Limited and Nishat Hotels and Properties Limited, PKGP's associate companies, for further one year, at the mark-up rate of 1-month KIBOR plus 1% (which shall not be less than the average borrowing cost of the company).

The aforesaid recommendation is subject to the approval of shareholders.

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