Karachi: Fateh Sports Wear Limited, a key player in the Pakistani sports apparel market, provided an update on its recent operations and future strategies in a communication to the Pakistan Stock Exchange Limited, dated October 3, 2024. The letter outlined the company’s ongoing efforts to secure USRs2.00 million in stuck funds and its optimistic outlook towards resuming full operations once these funds are released.

The management disclosed, "In response to a letter from PSX dated September 30, 2024, we are actively pursuing the release of these crucial funds, and are optimistic about a favorable resolution in the near future." According to information available from the Pakistan Stock Exchange (PSX), the company has been effectively developing marketing strategies aimed at enhancing product sales in international markets, which have been slightly hampered by capital constraints.

Fateh Sports Wear is not only working on securing export orders but is also in continuous talks with international buyers, reflecting a proactive approach to expanding its global footprint. "The management is hopeful that, upon the receipt of the stuck funds, there will be a significant improvement in our working capital situation, enabling us to boost production activities at the earliest," stated the company.

The next quarterly progress report is scheduled to be submitted by the fifth day of the next quarter, as per the listing regulations of the Exchange.