Karachi: Sitara Peroxide Limited has reported a comprehensive plan to restart its operations following a strategic plant shutdown, according to a progress report dated October 7, 2026. The company, referencing PSX Letter No. PSX/Gen-1182 dated October 2, 2026, disclosed these developments as part of its ongoing communications with stakeholders.

The plant shutdown was initiated to prevent substantial operational losses, address bank liabilities, and implement a comprehensive Balancing, Modernization, and Replacement (BMR) of its plant and machinery. This long-term strategy aims to benefit the company and its stakeholders significantly.

As part of its financial strategy, the company has successfully curtailed all types of expenses and repaid nearly all its bank liabilities, leaving only a nominal liability to one bank. The company is actively pursuing fresh funding through equity or bank borrowings to support its BMR initiatives and the resumption of operations. According to information available from the Pakistan Stock Exchange (PSX), these efforts reflect the company's firm commitment to resuming operations in the foreseeable future.

Alongside financing arrangements, Sitara Peroxide Limited is in negotiations with technology providers and engineering firms. These discussions aim to secure the necessary technological and engineering support to facilitate the company's modernization efforts.

The management of Sitara Peroxide Limited has requested that the Pakistan Stock Exchange consider the progress achieved and the company's dedication to resuming its operations, emphasizing its commitment to long-term strategic goals. The company remains focused on securing the necessary resources and partnerships to ensure a successful reopening.