Karachi: Trading in the shares of six companies will remain suspended at the Pakistan Stock Exchange (PSX) due to ongoing non-compliance with regulatory requirements, effective November 25, 2025. The suspension, announced by the PSX, follows the failure of these companies to rectify their non-compliance issues as outlined in previous notices.
According to the notice, Abson Industries Ltd., Prudential Stocks Fund Ltd., English Leasing Ltd., Sadoon Textile Industries Ltd., Hakkim Textile Mills Ltd., and Suraj Ghee Industries Ltd. have not addressed the causes of their trading suspension. The reasons include the failure to hold annual general meetings, non-submission of annual audited accounts, non-payment of dues to the exchange, and non-induction of ordinary shares into the Central Depository System (CDS).
The companies face various legal and administrative actions, with winding-up petitions filed against several by creditors and the Securities and Exchange Commission of Pakistan (SECP). Abson Industries Ltd. is also undergoing the appointment of an official liquidator following a court order in response to a creditor's winding-up petition. Prudential Stocks Fund Ltd., English Leasing Ltd., and Hakkim Textile Mills Ltd. are similarly under winding-up petitions filed by the SECP. Sadoon Textile Industries Ltd. has received an order from the SECP to initiate winding-up proceedings, while both the SECP and creditors have filed petitions against Suraj Ghee Industries Ltd.
The PSX has invoked its powers under Sub-Section (7) of Section 19 of the Securities Act, 2015, and clause 5.11 of the PSX Regulations to extend the suspension for another 60 days or until the issues are resolved. According to information available from the Pakistan Stock Exchange (PSX), this decision is a continuation of efforts to enforce compliance and ensure market integrity.
The suspension highlights the market's ongoing challenges with corporate governance and regulatory adherence. The situation underscores the critical importance of maintaining transparency and accountability within the financial markets.