PHDL Trying to Fully Close Operations by December 2025

Pakistan Hotels Developers Limited (PSX: PHDL) has announced that it is aiming to complete its winding-up process by the end of December 2025, following the special resolution passed on December 31, 2024. In a filing to the Pakistan Stock Exchange on Tuesday, the company’s liquidators stated that the winding-up will include the settlement of all outstanding debts, taxes, and legal matters, in line with requirements under the Companies Act, 2017. The liquidators noted that if the process cannot be completed within the deadline due to circumstances beyond the company’s control, they will seek a 12-month extension from the Sindh High Court based on valid grounds. Currently, the company is preparing its financial statements for the year ended June 30, 2025. The audited statements will be submitted to tax authorities, after which the final tax audit and liability payments will begin. The liquidators affirmed their commitment to keeping shareholders informed of all key developments during the liquidation process.