Karachi: Suhail Jute Mills Limited has reported ongoing difficulties in executing its strategy to dispose of unutilized assets, as revealed in the progress reports for the quarters ending March 31, 2026, and September 30, 2026. The reports, dated October 8, 2026, were provided in response to an inquiry regarding the company's current status and future plans.

The company has been striving to settle outstanding obligations to creditors through the sale of assets that became available following the merger with (Colony) Sarhad Textile Mills Ltd. However, attempts to sell land have met with no significant progress due to the prevailing security situation and the political and economic uncertainties in Khyber-Pakhtunkhwa. According to information available from the Pakistan Stock Exchange (PSX), the company's efforts have been hindered by these external factors, impacting its ability to move forward with planned operations.

Despite these challenges, the principal sponsors of Suhail Jute Mills have continued to inject substantial funds into the company, exceeding their capital holdings, to maintain its viability during a prolonged period of non-operation. This financial support has been crucial in sustaining the company for the benefit of its shareholders, employees, and creditors.

The company remains hopeful that the political and economic climate will stabilize, allowing it to proceed with asset sales and eventually restart operations. The sponsors' ongoing commitment underscores their determination to revive the company, despite the current hurdles. Suhail Jute Mills continues to explore various avenues to raise funds, with the aim of overcoming the prevailing uncertainties and executing its strategic plans.