The Pakistan Telecommunication Company Limited (PTCL) has announced that the Supreme Court has disposed of its review petition concerning pensionary benefits, directing the company to acknowledge its continuing financial liability towards pension increases aligned with civil servant scales.
According to a stock filing at the Pakistan Stock Exchange (PSX), PTCL has been instructed to reflect these liabilities in its financial statements in accordance with applicable accounting and corporate law principles.
Following the verdict, PTCL has initiated the process of verifying pensioners’ data, which will be shared with the Pakistan Telecommunication Employees Trust (PTET) to determine the required contribution from the company.
PTCL stated that this verification is a complex and time-consuming exercise, and the financial impact will be recorded once the process is finalized.
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