Pakistan National Shipping Corporation (PNSC) has successfully swapped its Rs 3.3 billion loan with another loan on soft terms, with a repayment period of four years on low mark-up and thus PNSC has saved tens of millions of rupees. In this regard, a signing ceremony was held here at PNSC Building on Thursday.
The ceremony was attended by the Federal Minister Ports and Shipping Senator Kamran Michael, Chairman PNSC Arif Elahi, Head of Investment Banking Faysal Bank, Tayyaba Rasheed, PNSC General Manager Finance Jarrar Haider Kazmi and others. The agreement was signed by Bilal Asghar, Head of Corporate Investment Banking of Faysal Bank and Imtiaz C Agboatwala, PNSC Executive Director Finance. On this occasion Chairman PNSC Arif Elahi informed that this has enabled PNSC to repay the outstanding loan and replace with a loan on softer terms, saving substantial financial cost.
Comments
Comments are closed.