{"id":59576,"date":"2020-01-08T17:14:14","date_gmt":"2020-01-08T12:14:14","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=59576"},"modified":"2020-01-08T17:14:14","modified_gmt":"2020-01-08T12:14:14","slug":"govt-set-up-corporate-restructuring-company-increase-employment-levels","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/govt-set-up-corporate-restructuring-company-increase-employment-levels.html","title":{"rendered":"Govt to set up corporate restructuring company to increase employment levels"},"content":{"rendered":"<p>Lahore: Prime Minister (PM) Imran Khan recently directed the federal government to formulate a proposal for setting up the Pakistan Corporate Restructuring Company Limited (PCRCL) \u2014 an initiative aimed at uplifting the country\u2019s economy and generating employment opportunities, a news source reported.<\/p>\n<p><strong>Read<\/strong>:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/special-industrial-zone-hub-boost-employment.html\" target=\"_blank\" rel=\"noopener noreferrer\">Special industrial zone in Hub to boost employment<\/a><\/p>\n<p>According to the information available, the government will allocate initial capital worth PKR 500 million to establish the project. PCRCL will rehabilitate sick units and take measures for generating economic growth. Officials concerned will develop a complete framework for the maintenance and reorganisation of the sick units.<\/p>\n<p>Meanwhile, sources revealed that the government remained committed towards improving the country\u2019s <a href=\"https:\/\/www.zameen.com\/news\/online-banking-facility-suggested-for-overseas-pakistanis.html\" target=\"_blank\" rel=\"noopener noreferrer\">banking system<\/a>. It is expected to collaborate with the State Bank of Pakistan (SBP), Securities &amp; Exchange Commission of Pakistan (SECP), and other relevant agencies in this regard. It aims to facilitate investor banks in processing requests for incorporating and licensing of PCRCL.<\/p>\n<p><strong>Read<\/strong>:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/banks-use-sbps-online-portal-submitting-foreign-exchange-cases.html\" target=\"_blank\" rel=\"noopener noreferrer\">Banks to use SBP\u2019s online portal for submitting foreign exchange cases<\/a><\/p>\n<p>According to a government notification, the state will set up PCRCL with the assistance of 10 domestic banks \u2014 under the Corporate Restructuring Companies Act.\u00a0 The notification added that PCRCL will acquire, manage, restructure, resolve non-performing assets (NPAs) of financial institutions, and help reorganise and revive these financially and commercially distressed business entities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lahore: Prime Minister (PM) Imran Khan recently directed the federal government to formulate a proposal for setting up the Pakistan Corporate Restructuring Company Limited (PCRCL) \u2014 an initiative aimed at uplifting the country\u2019s economy and generating employment opportunities, a news source reported. Read:\u00a0Special industrial zone in Hub to boost employment According to the information available, the government will allocate initial capital worth PKR 500 million to establish the project. PCRCL will rehabilitate sick units and take measures for generating economic growth. Officials concerned will develop a complete framework for the maintenance and reorganisation of the sick units. Meanwhile, sources revealed that the government remained committed towards improving the country\u2019s banking system. It is expected to collaborate with the State Bank of Pakistan (SBP), Securities &amp; Exchange Commission of Pakistan (SECP), and other relevant agencies in this regard. It aims to facilitate investor banks in processing requests for incorporating and licensing of PCRCL. Read:\u00a0Banks to use SBP\u2019s online portal for submitting foreign exchange cases According to a government notification, the state will set up PCRCL with the assistance of 10 domestic banks \u2014 under the Corporate Restructuring Companies Act.\u00a0 The notification added that PCRCL will acquire, manage, restructure, resolve non-performing assets&hellip;<\/p>\n","protected":false},"author":68,"featured_media":34938,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[14887],"persona":[],"class_list":{"0":"post-59576","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-details-on-govt-to-set-up-corporate-restructuring-company-to-increase-employment-levels"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Govt to set up corporate restructuring company to increase employment levels - Zameen News<\/title>\n<meta name=\"description\" content=\"Lahore: Prime Minister (PM) Imran Khan recently directed the federal government to formulate a proposal for setting up the Pakistan Corporate\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/govt-set-up-corporate-restructuring-company-increase-employment-levels.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt to set up corporate restructuring company to increase employment levels - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Lahore: Prime Minister (PM) Imran Khan recently directed the federal government to formulate a proposal for setting up the Pakistan Corporate\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/govt-set-up-corporate-restructuring-company-increase-employment-levels.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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