Karachi: Progressive Insurance Company Limited (PRIC) is confronting further complications on the Pakistan Stock Exchange (PSX) due to its failure to adhere to specific regulatory requirements. The announcement was made in a report dated June 4, 2026, indicating that PRIC has not held its Annual General Meeting (AGM) or presented its Annual Audited Financial Statements for the fiscal year ending December 31, 2025.
The company is already listed in the Winding-up Segment as a result of previous non-compliances with clauses 5.11.1. (a), (d), and 5.11.2. (b) of the PSX Regulations. The recent infractions relate to clauses 5.11.1. (b) and (c), which involve the failure to conduct a required AGM and the submission of the necessary financial statements.
According to information available from the Pakistan Stock Exchange (PSX), PRIC’s non-compliance will be officially recorded in the Daily Quotations of PSX starting June 5, 2026. The regulations stipulate that if a company does not hold its AGM or submit its financial statements for two consecutive years, trading in its shares will be suspended. PRIC’s shares are already under suspension, and the latest violations will be added to its record.
The PSX Regulations further dictate, under clause 5.11.8., that in instances where a company has multiple grounds for being placed in the Non-Compliant or Winding-up Segments, the Exchange will prioritize the actions that led to the initial suspension or potential delisting. PRIC’s trading suspension was previously enacted under Regulation 5.11.2.(b), and further measures will proceed in accordance with existing regulatory frameworks.