Karachi: Ghandhara Automobiles Limited (GAL) has announced the expiration of its exclusive Distribution Agreement and KD Supply Agreement with Chery Automobile Co., Limited, as of today. The agreements, which positioned GAL as the exclusive distributor and authorized representative of Chery Automobiles in Pakistan, were initially established under the securities guidelines set forth by Sections 96 and 131 of the Securities Act, 2015, and the Pakistan Stock Exchange Limited's Rule Book.

Despite the expiration, both GAL and Chery Automobile Co. have indicated ongoing negotiations to ensure a seamless transition. This development comes as Ghandhara Automobiles Limited continues to handle the sales and aftersales services of Chery Brand vehicles during this interim period.

According to information available from the Pakistan Stock Exchange (PSX), these agreements have played a crucial role in defining GAL's market strategy and positioning within the automotive sector in Pakistan. The designated market category for GAL remains a focal point as both companies work towards a mutually beneficial resolution.

The ongoing discussions between GAL and Chery Automobile Co. highlight their commitment to maintaining customer satisfaction and market presence. Stakeholders, including TREC holders, are advised to stay informed of further announcements as negotiations progress.