Maple Leaf Cement Factory Limited (MLCFL) Monday paid Rs 8 billion Sukuk loan much earlier than scheduled. "The company has been able to pay off much earlier than scheduled, its entire Sukuk loan of Rs 8 billion in the third quarter of the current financial year," said Muhammad Ashraf, MLCFL's company secretary, in a stock filing Monday.

The payment, he said, was made against the agreed repayment schedule till December 2018. "Improved profitability, better cash flow, cost curtailment initiatives and efficient financial discipline" Ashraf said made it possible for his company to repay its debts in advance.

Copyright Business Recorder, 2016