Karachi: Two companies, Asim Textile Mills Limited and J.A. Textile Mills Limited, are set to be placed in the Non-Compliant Segment of the Pakistan Stock Exchange (PSX) due to their failure to pay imposed penalties. This decision comes into effect on April 23, 2025, following non-compliance with regulations outlined by the PSX.

According to the notification, both companies have not met obligations under Clause 5.21.1 of the PSX Regulations, which has led to their placement in the Non-Compliant Segment as per Clause 5.11.1.(d). This clause allows for such action if a company does not pay the annual listing fees for two years, any penalty imposed by the Exchange through final order, or any other dues payable under the regulations.

The Pakistan Stock Exchange has set a deadline for compliance, instructing the companies to rectify the situation by paying all outstanding dues within 90 days, specifically by July 21, 2025. According to information available from the Pakistan Stock Exchange (PSX), failure to comply within this timeframe could result in further actions. These actions may include the issuance of a Risk Warning Alert against the companies, as stipulated in Clause 5.11.3.(d) of the PSX Regulations.

The placement of Asim Textile Mills Limited and J.A. Textile Mills Limited in the Non-Compliant Segment underscores the regulatory measures enforced by PSX to ensure compliance with its financial obligations. The market category affected by this decision involves the textile segment, which holds significance in the region's economic activities.