Karachi: Al-Ghazi Tractors Limited has addressed concerns raised in a recent news report by Dawn, asserting that the report of vendors halting the supply of tractor parts is inaccurate and unfounded. The company confirmed that its operations continue smoothly with uninterrupted supply from vendors.

According to information available from the Pakistan Stock Exchange (PSX), the news article titled "Vendors stop supply of tractor parts to assembler," published on August 9, 2024, suggested disruptions in the supply chain of Al-Ghazi Tractors Limited due to delayed payments. Contradicting these claims, the company provided a clarification in compliance with the Securities Act, 2015, and PSX Regulations, which state that such news should be based on facts.

In response to the PSX inquiry referencing letter Gen-1087 dated the same day, Al-Ghazi affirmed the continuity of supply from its vendors and reported that its operations are unaffected. The company criticized the timing of the inquiry, which was issued immediately following the publication of the news, arguing that it did not allow sufficient time for a proper response as mandated by Clause 5.6.2 of the PSX Regulations.

Al-Ghazi Tractors reassured stakeholders of its adherence to regulatory requirements, emphasizing its commitment to transparency and factual reporting to the PSX and its investors. The company has instructed the Exchange to update the TRE Certificate Holders regarding the clarification of these matters.