Pakistan Cables approves sale of land to relocate Karachi operations

Pakistan Cables Limited has approved the sale of its bifurcated land located at plot B-21, Pakistan Cables Road, SITE, Karachi, as part of its strategy to repay loans and relocate its operations to Nooriabad. 

The land, which spans approximately 6.816 acres and includes buildings, cables, fixtures, and fittings, was approved for sale by the company’s Board of Directors on September 4, 2024.

The decision is subject to shareholder approval, which will be sought at the upcoming Annual General Meeting (AGM) on September 30, 2024. 

The relocation to Nooriabad is aimed at supporting the company's operational growth while addressing its liabilities.

The company said that the notice for the AGM will be issued in due course, and the Pakistan Stock Exchange has been informed accordingly.