In a similar manner the bininstall target relies on $(LIBPC), but does not create that.

This makes me consider if the libainstall target should be installing pkg-config sciprt at all (and whether bininstall should be installing the .pc files).

It is hard for me to determine what the exact intended goals of each of these targets is, so I can't really come up with the right fix. Naively for both targets ensuring that the directory exists solves the symptom, but to be it looks like there is probably a greater underlying thing to determine here.