Karachi: Dewan Mushtaq Textile Mills Limited (DMTM), a company listed on the Pakistan Stock Exchange (PSX), has been experiencing unusual movements in its share price, despite having suspended operations since July 2016. The company has been unable to resume activities due to ongoing litigation, adverse scenarios, and severe working capital shortages.

In response to a query from the PSX, dated July 10, 2024, regarding the volatility in its share price, DMTM disclosed that it has no control over its share price or trading volumes. The company clarified that the factors leading to these fluctuations are unknown to them and suggested that market prices might be influenced by the sentiments of individual buyers and sellers.

According to information available from the Pakistan Stock Exchange (PSX), DMTM emphasized its ongoing compliance with legal requirements concerning the disclosure of price-sensitive information. The company assured that it would continue to disclose significant developments promptly to the exchange for public dissemination.

Despite these assurances, the continued suspension of operations since 2016 due to multiple challenges has raised concerns about the company's future and its impact on shareholder value.

DMTM's management has reiterated its commitment to transparency and regulatory compliance, as they navigate through these challenging times.