Pakistan International Bulk Terminal (PIBTL) has released its financial burden of huge loans to the tune of Rs. 5.490 billion.
According to the stock filing, the company officially informed its shareholders that it made repayment of its loans to the local commercial banks while completing a refinancing arrangement at economical terms.
The primary objective of the company’s capital management is to maintain healthy capital ratios, strong credit rating, and optimal capital structures in order to ensure ample availability of finance for its existing and potential investment projects, maximize shareholder value and reduce the cost of capital. The company manages its capital structure and makes adjustments to it, in light of changes in economic conditions.
PIBT secures loans from various commercial banks including Albaraka Bank, Faysal Bank, Meezan Bank, Dubai Islamic, JS Bank, MCB Bank and etc. The company made a profit of Rs. 1.85 billion by the end of the financial year 2020-21.
