Pakistan Services Limited defers directors’ elections on IHC orders
- Says IHC has suspended the operation of the impugned notices relating to the acquisition of shares and holding of fresh elections
Pakistan Services Limited (PSEL) announced on Tuesday that it had deferred the elections of directors scheduled on March 29, 2026 on the directions of the Islamabad High Court (IHC).
PSEL announced the development in a notice to the Pakistan Stock Exchange today.
“The court has suspended the operation of the impugned notices relating, inter alia, to the acquisition of shares and holding of fresh elections and has also restrained certain respondents from interfering with the management or affairs of the company.
More significantly, the court has directed that the operation and effect of the impugned transfers shall remain suspended and that a status quo be maintained with respect to (i) the shareholding structure, (ii) the composition of the Board of Directors, and (iii) the control and management of the company,” the notice read.
PSEL was set up as a public limited company in 1958 under the Companies Act, of 1913 (now Companies Act, 2017).
It owns and manages a chain of hotels under the name “Pearl Continental”, which it also grants franchises to use its trademark and name.