Karachi: Quantum Data Technologies Limited, formerly known as Chakwal Spinning Mills Limited, announced on July 24, 2026, that it has made significant strides in its financial restructuring efforts. The company disclosed its full settlement with The Bank of Punjab and a negotiated agreement with Habib Metropolitan Bank Limited, substantially reducing its outstanding liabilities.

Quantum Data Technologies Limited confirmed the complete settlement of its liabilities with The Bank of Punjab, receiving a No Liability Certificate from the bank. This marks a crucial step in the company's strategy to strengthen its balance sheet.

In a separate agreement, the company settled its debt with Habib Metropolitan Bank Limited for PKR 360 million. This settlement, which involves three scheduled installments due on July 28, August 28, and September 30, 2026, provides a significant concession on the bank's initial claim. According to information available from the Pakistan Stock Exchange (PSX), the financial terms of these settlements are expected to yield savings exceeding PKR 300 million.

Quantum Data Technologies highlighted the anticipated financial impact of these settlements, which include the release of its principal industrial asset from banking encumbrances. The asset, located in District Kasur, covers approximately 132.5 Kanals of land and is valued at over PKR 2 billion. Its release is expected to enhance the company's net asset value and offer financial flexibility for future growth.

The resolution of these long-standing banking obligations marks a pivotal moment in Quantum Data Technologies' corporate turnaround. The company aims to leverage this strengthened financial position to execute its long-term strategy focused on technology, digital infrastructure, data centers, and related high-growth sectors.

As part of its commitment to transparency, Quantum Data Technologies assured stakeholders of continued updates on material developments in compliance with regulatory requirements. The company's proactive approach underscores its dedication to achieving financial stability and strategic expansion in the burgeoning technology market.