Karachi: The company cited in the letter dated January 01, 2024, is struggling to resume its commercial operations this year due to insufficient working capital. Despite continuous efforts, financial constraints have impeded the company’s ability to restart full-scale production, leading to a halt in operations.

The company remains proactive in addressing its financial challenges and is in active discussions with a syndicate of banks to settle outstanding debts. This crucial step is expected to pave the way for restoring operations and ensuring future growth prospects for the company.

According to information available from the Pakistan Stock Exchange (PSX), the company’s market category remains affected by these ongoing financial issues. The resolution of these challenges is imperative for the company to regain its footing in the competitive market environment.

The company is hopeful that settling its debts will not only restore operations but also bolster its market position, securing a more stable financial future. The discussions with banking partners are seen as a pivotal move towards achieving these objectives.