Karachi: The Pakistan Stock Exchange (PSX) has announced the continuation of trading suspensions for three companies due to ongoing regulatory defaults and operational issues. The decision, detailed in a notice dated July 1, 2026, affects M/s. Gulistan Textile Mills Limited, M/s. Progressive Insurance Company Limited, and M/s. Silver Star Insurance Company Limited.

According to information available from the Pakistan Stock Exchange (PSX), these companies have failed to address the causes for their trading suspension initially highlighted in a previous notice in April 2026. M/s. Gulistan Textile Mills Limited faces suspension for halting commercial operations in its primary business, non-payment of exchange dues, and a winding-up petition filed by creditors in court. Similarly, M/s. Progressive Insurance Company Limited has suspended its commercial operations, failed to conduct its annual general meeting, and has not submitted its audited financial statements. Additionally, the Securities and Exchange Commission of Pakistan (SECP) has filed a winding-up petition against the company in court. M/s. Silver Star Insurance Company Limited has failed to hold its annual general meetings and submit its audited accounts.

The PSX has stated that trading in the shares of these companies will remain suspended until the issues are resolved or for another period of 60 days, commencing on July 2, 2026. This decision is made under the authority of Sub-Section (7) of Section 19 of the Securities Act, 2015, and Clause 5.11 of the PSX Regulations. The continued suspension underscores the PSX's commitment to regulatory compliance and transparency within its designated market category.