Karachi, The Pakistan Stock Exchange (PSX) has issued a final compliance deadline of April 29, 2024, for two companies, Bilal Fibres Limited and Hira Textile Mills Limited, which are currently facing suspension due to non-compliance with PSX Regulation 5.11.1.(e). This regulation mandates the payment of the Annual Listing Fee (ALF) and the SECP supervisory fee, failures that were initially highlighted in notices issued on February 20 and March 29, 2024.

Bilal Fibres Limited and Hira Textile Mills Limited have been found non-compliant in multiple areas under Regulation 5.11.1., with both companies having failed to pay the required fees for two years as stipulated by SECP notification SRO 598(1)/2016 dated June 29, 2016. If these companies do not rectify their non-compliance by the April deadline, PSX may take further actions as per Regulation 5.11.2, which could include a compulsory buy-back direction to sponsors or majority shareholders.

Furthermore, if the non-compliances are rectified within the specified time, both companies will continue to be listed in the PSX Defaulters' Segment under the cited non-compliances, and additional actions will be required according to the relevant regulations.