The Supreme Court gave its ruling on the review case over pensionary benefits of Pakistan Telecommunication Company Limited (PTCL). In addition, the business was instructed to admit its ongoing financial responsibility to offer increase in pension that will be in accordance with civil servant rates.
In accordance with applicable accounting as well as corporate law regulations, PTCL has been directed by Supreme Court to include these liabilities in its financial accounts, per a stock filing at the Pakistan Stock Exchange (PSX).
In order to ascertain the necessary contribution from the business, PTCL has started the process of validating pensioners’ data, which would be shared with the Pakistan Telecommunication Employees Trust (PTET) after the ruling.
According to PTCL, this verification process is intricate and time-consuming, and once the procedure is complete, the financial impact will be documented.
Loading ...
){kind=link}