Packages Limited to Inject Rs. 3 Billion into StarchPack
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
The Board of Directors (BoD) of Packages Limited (PSX: PKGS) has accorded its approval for injection of up to Rs. 3 billion into its 100 percent wholly owned subsidiary StarchPack (Private) Limited (StarchPack).
The BoD has accorded its approval for injection of up to Rs. 3 billion in various forms including ordinary share capital, subordinated debt and conversion of any prior loan to equity into StarchPack, the company said in a notice to the Pakistan Stock Exchange (PSX) on Friday.
The injection is subject to compliance with applicable laws and fulfilment of applicable corporate and regulatory approvals, if any.
StarchPack is a wholly owned subsidiary of the company and is involved in the manufacturing and sale of corn-based starch products, its derivatives and by-products.
Reference Link:- https://propakistani.pk/2024/12/27/packages-limited-to-inject-rs-3-billion-into-starchpack/
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
