Karachi: Sitara Peroxide Limited has released a progress report detailing recent operational and financial strategies. According to the announcement made on July 6, 2026, the company has temporarily shut down its plant to prevent ongoing operational losses while implementing a comprehensive Balancing, Modernization, and Replacement (BMR) of its plant and machinery. This decision is aimed at securing the long-term interests of its stakeholders.

The company has also made significant strides in reducing its financial liabilities. Management has substantially repaid debts to financial institutions, thereby alleviating financial pressure and strengthening its position for acquiring new funding. This strategic move aims to open avenues for fresh equity or bank borrowings.

Active discussions with financial institutions and potential investors are currently in progress to secure the necessary funding. Concurrently, negotiations with the technology provider are underway to facilitate the BMR process.

According to information available from the Pakistan Stock Exchange (PSX), these measures are part of Sitara Peroxide Limited’s commitment to completing the BMR at the earliest possible time to resume operations efficiently. The company has requested PSX to acknowledge the progress made, reflecting its dedication to revamping its operational capabilities and improving financial stability.

In light of these developments, Sitara Peroxide Limited continues to engage with relevant stakeholders to expedite the completion of its modernization plans.