Printing Corporation of Pakistan (PCP) Lahore has sought bailout package of Rs 637 million to pay salaries and pension to its employees. A letter has been written to the government saying that the PCP is facing bankruptcy and a bailout package is immediately required to save the Corporation.
The Corporation has pointed out that it was facing a miserable situation to the extent that it was unable to pay pensions and salaries from the last two months. The corporation has demanded an amount of Rs 637 million from government to pay salaries worth Rs 23 million and pension worth Rs 15 million. The Corporation has extended a commitment of paying back the bailout package in a period of 10 years. The Printing Corporation of Pakistan was established in 1969 and is one of the oldest public sector corporations in the country.
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