Karachi: Hascol Petroleum Limited has taken steps to rectify its failure to comply with Pakistan Stock Exchange (PSX) regulations, specifically regulations 5.11.1.(b) and (c), according to a recent notice. The company held its overdue Annual General Meeting (AGM) and submitted its Annual Audited Financial Statements for the fiscal year ending December 31, 2024.

This development follows the PSX Notice No. PSX/N-466, issued on May 06, 2025, which highlighted Hascol's non-compliance due to its inability to hold the AGM and submit the required financial documents in a timely manner. The transmission of the overdue financial statements and the convening of the AGM have now brought Hascol into compliance with the mentioned regulations.

Despite this progress, Hascol remains listed in the Non-Compliant Segment of the PSX. The company continues to face issues due to the statutory auditor's adverse opinion in its audited report. This ongoing challenge relates to non-compliance with clause 5.11.1.(g) of the PSX regulations, which will keep Hascol in its current market category until all non-compliance issues are fully addressed.

According to information available from the Pakistan Stock Exchange (PSX), the rectification of the previous non-compliance does not immediately affect its standing under the adverse auditor opinion. The company needs to resolve all outstanding compliance issues to move out of the Non-Compliant Segment.