Karachi: Four Pakistani textile firms are facing the threat of regulatory action due to ongoing non-compliance with requirements set forth by the Pakistan Stock Exchange (PSX). The companies, Amtex Limited, Dewan Mushtaq Textile Mills Limited, Crescent Jute Products Limited, and Dewan Textile Mills Limited, have been given until July 21, 2025, to address these issues or face severe consequences.

The PSX issued a compulsory buy-back directive to the sponsors and majority shareholders of these companies. This directive was a result of the firms’ continuous failure to settle outstanding dues with the PSX. The compliance deadline is a significant point of concern for these businesses, as failure to meet it could lead to further regulatory actions.

According to information available from the Pakistan Stock Exchange (PSX), Amtex Limited (AMTEX) and Dewan Mushtaq Textile Mills Limited (DMTM) are under scrutiny for multiple non-compliance issues, including breaches of PSX regulations 5.11.1.(d)(g) and 5.11.1.(a)(b)(c)(d)(g), among others. In the case of non-compliance by the deadline, the PSX plans to forward their cases to the Securities and Exchange Commission of Pakistan (SECP) to initiate winding-up proceedings under the Companies Act, 2017.

Crescent Jute Products Limited (CJPL) and Dewan Textile Mills Limited (DWTM), already under action by the SECP, face further regulatory steps as per PSX regulations. These steps are expected to be taken if the companies fail to comply with the buy-back directive or rectify the non-compliance issues by the set deadline.

The designated market category for these companies remains under observation as the PSX monitors their progress toward meeting the regulatory requirements. The looming deadline underscores the urgency for these firms to align with the PSX's directives to avoid further repercussions.