Karachi: D.M. Textile Mills Limited has submitted a quarterly progress report to the Pakistan Stock Exchange (PSX) as of June 30, 2024, outlining its ongoing financial challenges and its efforts to stabilize operations.

According to information available from the Pakistan Stock Exchange (PSX), the textile company has successfully cleared all its long-term liabilities with financial institutions, a significant accomplishment under current economic and political strains. Despite this progress, the company continues to face substantial hurdles, primarily due to minimal income that barely covers daily operational costs.

In its report, the management expressed a committed intention and capability to revive the company, contingent upon an improvement in the business environment. However, D.M. Textile Mills has appealed to the PSX for support, requesting removal from the Defaulter Segment. The company argues that this label exacerbates their difficulties, hindering potential recovery efforts.

This appeal to the PSX highlights the critical situation at D.M. Textile Mills and represents a call for assistance that could be pivotal in the company’s efforts to regain stability and growth.