PHDL Preparing Financial Statements for 2025

Pakistan Hotels Developers Limited (PHDL) announced on Wednesday that they are currently working on the financial statements for the fiscal year ending June 30, 2025.

PHDL disclosed this information in a notification submitted to the Pakistan Stock Exchange (PSX) on Wednesday.

According to the notice, “The company’s liquidators wish to draw your attention to the winding-up roadmap, which began on December 31, 2024, following a special resolution approved during the general meeting of members, in accordance with the Companies Act 2017.”

The announcement further stated that the company is obligated to finalize the winding-up process, which includes settling all debts, taxes, liabilities, and any pending legal cases, by the conclusion of December 2025.

PHDL stated, “Should the winding-up process extend beyond the stipulated timeframe due to circumstances beyond the company’s control, the company will petition the Sindh High Court for a further twelve-month extension to address any unresolved matters, presenting justifications and facts to satisfy the Court.”

The company added that payments of liabilities and final tax assessments will commence after the audited financial statements for the year ending June 30, 2025, are submitted to the tax authorities.

Originally incorporated as Taj Mahal Hotels Limited in 1979 as a private limited entity, PHDL transitioned to a public limited company in 1981.

The company’s primary business operation was in the hotel sector.