Islamabad: The Pakistan Stock Exchange announced that Millat Tractors Limited will resume its production operations starting September 04, 2024. According to information available from the Pakistan Stock Exchange (PSX), the company's production had been temporarily halted, but it is now set to restart. The resumption comes after compliance with Sections 96 and 131 of the Securities Act, 2015 and Clause 5.6.1 of the Rule Book of the Pakistan Stock Exchange Limited.
While production is restarting, sales operations will remain limited. The company is awaiting further details from the Federal Board of Revenue (FBR) concerning the clarification on the sales tax refund procedure and its applicability. This ongoing issue continues to restrict full business operations, impacting sales directly.
Millat Tractors Limited has communicated this development to the Certificate Holders of the Exchange, ensuring transparency and adherence to regulatory guidelines as they navigate through the complexities of tax policies.