Karachi: Dost Steels Limited has announced a restructuring agreement with consortium banks, effectively rescheduling its outstanding debt. The company has committed to repay an aggregate amount of PKR 2.08 billion, inclusive of all future markup, over sixteen quarterly installments. As part of this agreement, an initial payment of PKR 50 million has already been made.

In a move aligned with the restructuring strategy, Mr. Muhabbat Khan and Mr. Zahir Khan, the new investors, have provided personal guarantees to the consortium banks. They are set to inject PKR 2.08 billion into the company, earmarked specifically for fulfilling repayment obligations to the consortium banks. This development is anticipated to facilitate the resumption of the company's operations in the near future.

According to information available from the Pakistan Stock Exchange (PSX), the restructuring and investment initiatives by Dost Steels Limited are categorized within the designated market category. The company, through these strategic financial measures, aims to stabilize its financial position and enhance operational viability.