HASCOL To See Bright Future, Taking Bold Step to Restructuring Debt


Hascol Petrol Restricted (PSX: HASCOL), one of the main oil showcasing organizations in Pakistan has made huge strides towards rebuilding its obligations and getting a manageable future for the organization, the organization in a press proclamation uncovered today. At its new executive gathering, the organization supported further subtleties for obligation rebuilding with its brokers and another plan of action that will set it on a solid way toward future achievement. The board additionally supported specific corrections to the Plan of Course of action, which has been settled upon with the vast majority of its banks.

HASCOL has been in talks with every one of its loan specialists to rebuild its whole obligation of Rs54 billion, planning to settle everything as per the general inclination of banks. The rebuilding plan is intended to guarantee the organization’s endurance and thriving from here on out. The changed plan will be introduced to got lenders at a loan bosses’ gathering in April, after which it will be submitted to the High Court for legitimate endorsement. Whenever settled upon, it will tie the organization and its brokers to another monetary design.

Director Sir Alan Duncan communicated certainty that Hascol’s most terrible issues are behind it, and the future for the organization is starting to look significantly more brilliant. The Pakistan Stock Trade (PSX) has been exhorted as needs be. HASCOL’s new improvements are a positive sign for the organization and the oil and gas area in Pakistan.
The organization’s endeavors to rebuild its obligations and embrace another plan of action show its obligation to conquering difficulties and getting a supportable future.

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