Daily Times

Pakistan Services Limited (PSL) conducted its fourth Corporate Briefing Session at the Islamabad Marriott Hotel on Friday 27th October 2023, in compliance with the directives of the Pakistan Stock Exchange. The Senior Management of the Company, including the Vice Chairman of Hashoo Group and Director of the Company, Mr. Mohammad Akhtar Bawany; Chief Financial Officer, Mr. Tahir Mahmood; Company Secretary, Mr. Muhammad Amir; and Board Members, Mr. Shakir Abu Bakar, Mr. M. Ghazali Marghoob, Mr. Rohail Ajmal, Mr. Shahid Hussain, and Mr. Saleem Ahmed Ranjha, were present at the event. The event was also attended by Chartered Accountants, Corporate Law Professionals, Lawyers, and members of the Company. Mr. Amir, Company Secretary, opened the program by presenting a brief profile of PSL and shared corporate information about the Company. He then shared the journey to the success of PSL and mentioned that PSL was incorporated in December 1958 and became a part of Hashoo Group in 1985. The Company is principally engaged in the hospitality business and owns and operates a chain of five-star Pearl-Continental Hotels across Pakistan. Currently, PSL owns six five-star hotels in major cities of Pakistan and Azad Jammu and Kashmir, each of which enjoys a prominent standing in the market.

Meanwhile, PSL is expanding its portfolio in key destinations across Pakistan. The Company is in the process of constructing two five-star hotels in Mirpur and Multan. The Company has introduced its new brand, “PC-Legacy,” to cater to the demands of the four-star segment of the business. In addition to the hospitality business, PSL also has interests in the travel and tourism business, operating under the prestigious banner of Destinations of The World (DOTW). This venture is licensed under a master franchise agreement signed with DOTW Dubai. PSL is also engaged in the car rental business through its wholly-owned subsidiary, Pearl Tours & Travels (Pvt) Limited. Moreover, it plans to enter the real estate business through two wholly-owned subsidiaries in this sector. Later, the Chief Financial Officer, Mr. Tahir Mahmood, shared financial and operational highlights of the Company. The event concluded with a comprehensive question-and-answer session.