Karachi: Trading in the shares of M/s. Safa Textiles Limited will remain suspended for an additional 60 days starting March 31, 2025, due to continued non-compliance with regulatory requirements outlined by the Pakistan Stock Exchange (PSX).

The company has not addressed the reasons for the suspension which include failure to hold Annual General Meetings, non-submission of Annual Audited Financial Statements, and non-payment of dues to the Exchange. This action follows the PSX Notice No.PSX/N-128 issued on January 29, 2025, emphasizing the company's ongoing regulatory breaches.

According to information available from the Pakistan Stock Exchange (PSX), the decision to extend the suspension was made under Sub-Section (7) of Section 19 of the Securities Act, 2015, and clause 5.11 of the PSX Regulations. The extension will continue until Safa Textiles rectifies the compliance issues or until the expiration of the 60-day period.

This development impacts the designated market category as stakeholders await further actions from Safa Textiles to address the compliance failures. The company must act promptly to resume trading and meet its obligations under the PSX guidelines.