Karachi: Dewan Sugar Mills Limited (DWSM) has rectified a specific non-compliance with Pakistan Stock Exchange (PSX) regulations by paying an outstanding penalty, according to an official notice.

The PSX issued Notice No. PSX/N-791 on August 13, 2024, detailing the non-compliance of DWSM under PSX Regulation 5.11.1.(d), which involved the failure to pay a penalty imposed by the Exchange under PSX Regulation 5.21.1. Following this notification, the company has now cleared its dues to PSX.

According to information available from the Pakistan Stock Exchange (PSX), while the immediate issue of the penalty has been addressed, DWSM will remain in the Defaulters' Segment, which is to be renamed as the Non-Compliant or Winding-Up Segment. This continuation in the segment results from other unresolved regulatory issues, including an adverse opinion issued by its statutory auditor in the audit report.

Stakeholders and investors are advised to consider these factors when evaluating their involvement with DWSM as the company works toward rectifying all outstanding non-compliances.