Power Cement looks to enhance financial and tax efficiencies

The Board of Directors at Pakistan-based Power Cement Limited has requested the company's management explore and evaluate opportunities for a potential reorganisation of group companies. According to Mettis Global, the objective is to enhance financial and tax efficiencies across the group's entities.

The decision came in response to an invitation from the group's leadership, urging the company to examine viable options that strengthen the balance sheets of group companies for financial and tax efficiencies and present their recommendations for consideration and approval of the board.

In its financial report for the nine months ended 31 March 2023, the company said, “In the forthcoming months, Pakistan's economy is expected to face significant challenges as persistent political uncertainty and structural deficiencies are likely to increase the risk of recession in the country. Furthermore, the measures taken to unlock the IMF financing, such as cutting PSDP, removing subsidies and increasing energy costs will continue to pose serious challenges for the businesses.”