Given the present overall economic situation of the country, there was a dire need to take extraordinary steps to expedite the resolution of Non-Performing Assets of the Banks/FIs and make distressed companies financially and operationally viable. To meet this end, Pakistan Corporate Restructuring Company Limited (PCRCL), has been incorporated and licensed under the Corporate Restructuring Companies Act, 2016, with a mandate to revive, restructure and rehabilitate the sick industrial units & businesses in Pakistan. The Company has collectively been established by the top ten(10) Private Sector Banks of Pakistan namely Allied Bank Limited, Bank Alfalah Limited, Bank Al Habib Limited, Faysal Bank Limited, Habib Bank Limited, Habib Metropolitan Bank Limited, MCB Bank Limited, Meezan Bank Limited, National Bank of Pakistan and United Bank Limited (collectively, the “Sponsors”)
