Dubai-based Pacific Controls will submit a proposal to creditor banks on how to restructure AED1.4bn of debt by end of October. The company began talks with banks during the summer after hitting problems with repayments, partly due to delays in payments from some clients. The privately-owned company, which launched in 2000, counts a number of state institutions as customers including Dubai Civil Defence and the Roads and Transport Authority, as well as government-controlled companies such as telecoms firm Etisalat, banks, hospitals and schools. (Reuters)