Pakistan Telecommunication Company Limited (PTCL) informed on Wednesday that it was currently in the process of verifying pensioners’ data as per the Supreme Court’s order.
The leading telecom provider shared the development in a notice to the Pakistan Stock Exchange (PSX) today.
On July 11, a three-judge, headed by Chief Justice Yahya Afridi and comprising Justice Aminuddin Khan and Justice Ayesha A Malik, announced the judgment regarding of pension of PTCL ex-employees.
The bench ruled that the employees transferred from Telegraph and Telephone to Pakistan Telecommunication Corporation and subsequently to PTCL, retained not only their right to pensionary benefits but also the character of those benefits as dynamic and evolving rights.
Meanwhile, the PTCL said once verified, the data will be shared with the Pakistan Telecommunication Employees Trust to calculate the required contribution from PTCL.
“This is a complex and time-consuming exercise.
Upon finalisation of the records and relevant data, the financial impact will accordingly be appropriately reflected in the Company’s financial statements,“ the notice to the bourse read.
Comments
Comments are closed for this article.