Home / Brokerage / Pakistan Steel given 2yr extension over PkR 2 bn running finance facility – Alfalah Securities Limited

Pakistan Steel given 2yr extension over PkR 2 bn running finance facility – Alfalah Securities Limited

Karachi: GoP is likely to give an extension of 2 years over PkR 2 bn running finance facility to Pakistan Steel Mills on account of severe liquidity crunch being faced by the company.

According to Alfalah Securities, the ministry had approved a Term loan facility of PkR 8 bn and running finance facility of PkR 2 bn for procuring iron ore during the period of 2008-09, which is now expected to be extended up to January 4, 2012.

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