Karachi: Gammon Pakistan Limited has disclosed its quarterly progress report for the period ending March 31, 2026, highlighting ongoing challenges within the construction and infrastructure sector. The report, released in compliance with Clause 5.11.3(b) of the Rule Book of the Pakistan Stock Exchange Limited, provides insights into the company’s operational status and efforts to navigate a constrained economic environment.
The board of directors announced that the company did not undertake any new projects during the third quarter. Despite continuous efforts to secure construction and infrastructure projects, no significant developments materialized. According to information available from the Pakistan Stock Exchange (PSX), management remains focused on finding suitable opportunities.
The broader economic conditions remained challenging, with subdued overall economic activity. Fiscal constraints limited public sector development spending, while high financing costs and economic uncertainty led to cautious private sector investment. Elevated interest rates and cost pressures further hindered project initiation and execution, resulting in limited new project availability and delays in award decisions.
Despite these hurdles, Gammon Pakistan Limited actively pursued business development activities, engaging in tendering processes and exploring joint ventures with government departments and private sector entities. The management continues to prioritize financial viability and risk management in evaluating opportunities.
In terms of financial discipline, the company maintained strict cost management and operational efficiency. Administrative and overhead expenses were controlled to preserve liquidity. Efforts to recover outstanding receivables, claims, and retention monies from completed projects persisted, which are crucial for strengthening the company’s financial standing.
The report reflects a cautious approach amid ongoing economic and sector-specific challenges, as the company endeavors to resume and expand its business operations.