Karachi, In a recent notification, the Pakistan Stock Exchange (PSX) announced the continued suspension of trading in the shares of six companies due to various regulatory non-compliances. This decision follows the initial suspension notice PSX/N-88 issued on January 29, 2024, indicating that these companies have yet to address the causes leading to the suspension of their shares.

M/s. Ali Asghar Textile Mills Limited's trading suspension continues due to the suspension of its Central Depository System (CDS) eligibility by the Central Depository Company (CDC), a critical compliance issue under PSX Regulation 5.11.1.(g).

Similarly, M/s. Fateh Industries Ltd faces a trading halt for its non-payment of dues to the Exchange, a violation of PSX Regulation 5.11.1.(e). M/s. Fateh Sports Wear Ltd's shares remain suspended not only for non-payment of Exchange dues but also for suspending commercial production/business operations in its principal line of business, marking breaches of Regulations 5.11.1.(b) and (e).

M/s. Gulistan Spinning Mills Limited has multiple infractions including suspended commercial production/business operations, non-payment of dues to the Exchange, and an order by the Securities and Exchange Commission of Pakistan (SECP) for filing a winding-up petition. These violations span across Regulations 5.11.1.(b), (e), and (l).

M/s. Gulshan Spinning Mills Limited's suspension is due to halting commercial production/business operations and non-payment of dues, infringing Regulations 5.11.1.(b) and (e).

Lastly, trading in shares of M/s. Paramount Spinning Mills Limited will continue to be suspended for reasons similar to several of the aforementioned companies, including suspended business operations and non-payment of Exchange dues, under Regulations 5.11.1.(b) and (e).

The PSX has decreed that the trading suspension for these companies will persist until the causes for suspension have been rectified or another period of 60 days starting from March 30, 2024. This action is pursuant to the powers vested in the Exchange under Sub-Section (7) of Section 19 of the Securities Act, 2015, and clause 5.11 of the PSX Regulations.