Karachi: Security Leasing Corporation Limited (SLCL) has reported significant progress in its ongoing efforts to revive its operations and settle creditor liabilities. The announcement came in response to a formal inquiry, referencing a letter dated July 26, 2024.
On July 26, 2024, SLCL confirmed that it had reached an agreement to settle liabilities with one of its creditors, marking a pivotal step in its strategy to stabilize and revamp its financial standing. This development follows a series of negotiations facilitated by the support of the Pakistan Stock Exchange (PSX), which has played a critical role in backing SLCL’s management during this period. According to information available from the Pakistan Stock Exchange (PSX), the success in these negotiations is attributed to the diligent efforts of SLCL’s management team.
In addition to settling creditor debts, SLCL is actively engaging with executives from major investment firms to secure further support and investment to ensure long-term sustainability. These meetings are part of a broader strategy to reinforce investor confidence and position the corporation for future growth.
This progress report underscores SLCL’s commitment to addressing its challenges head-on and restoring its operational capabilities. The corporation’s management continues to work closely with all stakeholders to navigate the complexities of its financial restructuring.