Karachi: Trading in the shares of National Fibres Limited and Prudential Investment Bank Limited will remain suspended, the Pakistan Stock Exchange (PSX) announced on Thursday. This decision follows the companies' failure to address multiple regulatory defaults.

According to a PSX notice, the suspension stems from the companies' inability to conduct Annual General Meetings, submit annual audited accounts, pay their dues to the exchange, and induct ordinary shares into the Central Depository System (CDS). Additionally, the Securities and Exchange Commission of Pakistan (SECP) has filed winding-up petitions against both entities in court.

The enforcement of this suspension, which will commence on June 08, 2025, will persist until the companies rectify the issues or for an additional 60-day period. This action is pursuant to the powers conferred upon the exchange under Sub-Section (7) of Section 19 of the Securities Act, 2015, and clause 5.11 of the PSX Regulations.

According to information available from the Pakistan Stock Exchange (PSX), the designated market category for these companies is currently under review due to the aforementioned defaults.

The PSX emphasizes that trading will resume only after compliance with the regulatory requirements is confirmed, ensuring transparency and accountability within the market.