Karachi: In a decisive regulatory action, the Pakistan Stock Exchange (PSX) has announced the suspension of trading in the shares of six companies, effective from March 21, 2026, for a period of 60 days. This decision has been made in response to the companies' failure to address various regulatory defaults as stipulated by the PSX regulations.
According to a notice dated March 18, 2026, released by the PSX, the companies affected by this suspension include Annoor Textile Mills Ltd, Dadabhoy Construction Technology Ltd., Hamid Textile Mills Ltd, Globe Textile Mills Ltd, Hajra Textile Mills Ltd, and Taj Textile Mills Limited. These companies have been cited for multiple regulatory infractions, which include failing to hold Annual General Meetings, not submitting annual audited accounts, non-payment of dues to the Exchange, and failing to induct ordinary shares into the Central Depository System (CDS).
Annoor Textile Mills Ltd has been singled out for its failure to meet several key regulatory requirements, including a winding-up petition filed by the Securities and Exchange Commission of Pakistan (SECP). Dadabhoy Construction Technology Ltd. has suspended its principal business operations and received a disclaimer of opinion in its auditor's report, prompting the SECP to initiate winding-up proceedings.
Hamid Textile Mills Ltd is noted for non-payment of dues and receiving an adverse opinion in its audit report. Globe Textile Mills Ltd has similarly suspended its business operations and faces a winding-up petition from the SECP. Hajra Textile Mills Ltd and Taj Textile Mills Limited are both under scrutiny for failing to meet basic regulatory requirements, with winding-up petitions filed against them as well.
According to information available from the Pakistan Stock Exchange (PSX), the decision to suspend trading is made under the authority of Sub-Section (7) of Section 19 of the Securities Act, 2015, and PSX Regulations 5.11. The suspension will remain in effect until the companies rectify the causes of suspension or another period of 60 days elapses.
The development highlights the stringent regulatory environment governing the PSX, which is part of the broader designated market category in Pakistan, tasked with ensuring compliance and protecting investor interests. The suspension serves as a critical reminder to listed companies about the importance of adhering to regulatory requirements to maintain their trading privileges on the exchange. The PSX has emphasized that the suspension will remain in force until the identified issues are resolved, reinforcing the Exchange's commitment to maintaining a transparent and accountable market environment.