KARACHI: The Pakistan Security Printing Corporation (Pvt) Ltd (PSPC) has finalised the amalgamation of its wholly owned subsidiary, National Security Printing Company (Pvt) Ltd (NSPC), with effect from the start of business on July 1.

As a result of the merger, all assets, liabilities, rights, obligations, undertakings, and contracts of NSPC have been permanently vested in PSPC.

NSPC has ceased to exist as a separate legal entity and has been dissolved without winding up.PSPC, a wholly owned subsidiary of the State Bank of Pakistan, had earlier acquired NSPC from the federal government. According to a statement issued by the central bank on Tuesday, the amalgamation has been executed to achieve operational synergies and enhance value for customers.

The strategic integration is expected to improve resource utilisation and foster better coordination in delivering security printing services. It also aims to enable the introduction of more innovative and customercentric products.