Karachi: Suhail Jute Mills Limited has reported delays in its progress report for the quarter ending December 31, 2025, following the unexpected demise of its Chief Executive and principal shareholder, Mr. Sohail Farooq Shaikh, in November 2025. The company, headquartered in Karachi, expressed hope for understanding regarding the delay, citing the special circumstances surrounding the leadership transition.

The report, dated April 10, 2026, highlighted significant challenges encountered during the quarter, including difficulties in the sale of land assets due to ongoing security concerns and political and economic uncertainties in Khyber-Pakhtunkhwa. These factors have impeded the company’s efforts to generate vital funds needed to settle outstanding obligations and secure working capital for resuming commercial operations.

According to information available from the Pakistan Stock Exchange (PSX), Suhail Jute Mills Limited has assets available for sale following its merger with Colony Sarhad Textile Mills Ltd. The company retains a fully operational jute manufacturing facility, which has been maintained and is ready to produce revenue once sufficient working capital is secured. The anticipated proceeds from land sales are expected to address some of the company’s pressing liabilities and facilitate the revitalization of its commercial activities.

The principal sponsors of Suhail Jute Mills have committed to ongoing financial support to sustain the company during this non-operational period. Their continued investment underscores a vested interest in restarting operations to recover their investments and benefit all stakeholders involved.

Despite these challenges, the company expressed determination to implement its plans for generating the necessary funds to sustain and revive its commercial operations.