Karachi: Ghazi Tractors Ltd has responded to recent concerns about potential shutdowns in the tractor industry, as reported in the Pakistan Observer on August 9, 2024. The company has clarified that its operations remain fully active despite the broader industry struggles.

According to the news item in the Pakistan Observer, at least 250 direct suppliers to the country’s major tractor assemblers have ceased operations due to delayed payments. This disruption has raised alarms that tractor assemblers might have to halt production within a week if the situation persists. The article highlighted the urgent need for intervention by the Prime Minister to support the tractor industry.

In a detailed statement, Ghazi Tractors Ltd reassured the market and stakeholders that it continues to operate without any delays in the supply of parts or payments. The company emphasized its commitment to meeting the needs of its customers and actively engaging with the government and other stakeholders. This engagement aims to navigate the challenges brought about by recent changes in the tax regime and specific regulatory orders, notably SRO 563.

According to information available from the Pakistan Stock Exchange (PSX), Ghazi Tractors Ltd has ensured that all regulatory requirements are met, maintaining transparency and compliance as outlined in Sections 96 and 131 of the Securities Act, 2015, and Clauses 5.6.1 and 5.6.2 of the PSX Regulations. The company’s statement also directed the communication to the TRE Certificate Holders of the Exchange, ensuring that all market participants are adequately informed of their operational status.