Karachi: Four companies listed on the Pakistan Stock Exchange (PSX) are under increased scrutiny due to their continued non-compliance with PSX regulations, specifically for failing to pay the Annual Listing Fee for two consecutive years. The companies in question are Agro Allianz Limited (AAL), Chakwal Spinning Mills Limited (CWSM), Dadabhoy Construction Technology Limited (DCTL), and Haseeb Waqas Sugar Mills Limited (HWQS).
The PSX announced on October 22, 2025, that these companies, already cited in the Non-Compliant Segment or Winding-up Segment for various breaches of PSX regulations, now face additional non-compliance charges under regulation 5.11.1.(d). According to information available from the Pakistan Stock Exchange (PSX), Agro Allianz Limited is also under scrutiny for non-compliance with regulations 5.11.1.(a)(b)(c) and 5.11.2.(a). Meanwhile, Chakwal Spinning Mills Limited is in breach of regulation 5.11.1.(a), Dadabhoy Construction Technology Limited has violated 5.11.1.(a)(g) and 5.11.2.(a), and Haseeb Waqas Sugar Mills Limited is non-compliant with 5.11.1.(a).
According to PSX Regulation 5.11.8, in situations where a company has multiple grounds for inclusion in the Non-Compliant or Winding-up Segment, the Exchange will prioritize the earliest suspension or delisting criteria. As such, Chakwal Spinning Mills Limited, Dadabhoy Construction Technology Limited, and Haseeb Waqas Sugar Mills Limited have been directed under PSX Regulation 5.11.3.(c) to address their non-compliance with regulation 5.11.1.(d) by January 19, 2026. Failure to comply within the deadline will result in the issuance of a Risk Warning Alert as per PSX Regulation 5.11.3.(d).
The case of Agro Allianz Limited has already been escalated to the Securities and Exchange Commission of Pakistan (SECP) under PSX Regulation 5.11.3.(g), with all necessary enforcement actions being undertaken by the PSX. Despite any rectifications of the specific non-compliance with regulation 5.11.1.(d), these companies will continue to be listed in the Non-Compliant or Winding-up Segment for other existing regulatory breaches.
The situation underscores the PSX’s ongoing efforts to uphold regulatory compliance and ensure transparency within the designated market category, as companies navigate the consequences of not adhering to established guidelines.