Karachi: Hira Textile Mills Limited is on the brink of facing a trading suspension on the Pakistan Stock Exchange (PSX) after two consecutive years of failing to comply with specific regulatory requirements, according to a notice issued by the PSX. The company has not convened its Annual General Meeting (AGM) or transmitted its Annual Audited Financial Statements for the fiscal year ending June 30, 2025.

This ongoing non-compliance situation follows the Risk Warning Alert issued on May 12, 2026, under PSX Notice No. PSX/N-578. The alert highlighted Hira Textile Mills Limited's ("HIRAT") failure to meet critical regulatory obligations. The deadline for HIRAT to hold its AGM for the fiscal year ending June 30, 2026, is approaching on October 28, 2026. Failure to convene the AGM or transmit the Annual Audited Financial Statements for two consecutive years will trigger a suspension of trading in HIRAT shares.

According to information available from the Pakistan Stock Exchange (PSX), the regulations stipulate that a listed company may be placed in the Non-Compliant Segment if it does not hold its AGM or Annual Review Meeting (ARM) as mandated by law. If non-compliance persists for two consecutive years, the exchange will suspend trading in the company's shares and provide a grace period not exceeding 90 days for rectification.

The PSX regulations 5.11.1.(b) and (c) are clear on the requirements for listed companies to maintain compliance. Specifically, these regulations address the necessity of holding AGMs and submitting annual audited financial statements for the preceding financial year. Failure to adhere to these regulations has positioned Hira Textile Mills Limited in a precarious situation with potential trading implications.