November 03, 2025 (MLN): Saudi Pak Consultancy Company Limited (PSX: SPCL), formerly Saudi Pak Leasing Company Limited, has reported recoveries and settlements exceeding Rs200 million during the period July 2024 to September 2025, marking a major turnaround.

After the Securities and Exchange Commission of Pakistan (SECP) withdrew its liquidation notice, the company was allowed to shift its focus from leasing to consultancy services.

The new certificate of incorporation for Saudi Pak Consultancy Company Limited (SPCCL) was issued on October 11, 2024.

According to the company’s progress report released on PSX, it inherited all assets and liabilities of the former Saudi Pak Leasing Company Limited and concentrated on recovering non-performing loans and leases, as well as settling liabilities through cash recoveries.

During the reporting period, total recoveries stood at Rs59.491m, while liability settlements amounted to Rs149.665m. Additionally, settlements in progress were recorded at Rs355.197m.

Management noted that recovery efforts are being actively pursued through legal proceedings and out-of-court settlements to strengthen cash inflows and expedite the discharge of liabilities.

The report added that Board of Directors elections were held on April 22, 2025, ensuring compliance with the Code of Corporate Governance (COCG). The newly constituted board is now fully functional and steering the company toward a new phase of business growth.

SPCL’s management has also explored multiple consultancy avenues in partnership with both local and foreign entities, including the Committee for Economic Policy and Cooperation (CEPEC), and anticipates favorable outcomes in the current financial year.

The company’s Board and management expressed confidence that the firm’s negative equity position will continue to shrink as recoveries increase and liabilities are further reduced.