Karachi: The Pakistan Stock Exchange (PSX) has announced the continued suspension of trading in the shares of M/s. Mubarak Textile Mills Limited due to unresolved compliance issues, effective from May 28, 2025. This decision follows PSX Notice No.PSX/N-333 issued on March 27, 2025, which first addressed the non-compliance concerns.

M/s. Mubarak Textile Mills Limited has yet to address the reasons for the suspension, as outlined in Clauses 5.11.1.(a), (g), and 5.11.2.(b) of the PSX Regulations. These include the cessation of its principal business operations, an adverse opinion by the statutory auditor in its financial statements, and a winding-up petition filed against the company by the Securities and Exchange Commission of Pakistan (SECP).

According to information available from the Pakistan Stock Exchange (PSX), the suspension will remain in effect until the company rectifies these issues or for an additional period of 60 days. The decision was made under the authority granted by Sub-Section (7) of Section 19 of the Securities Act, 2015, and clause 5.11 of the PSX Regulations.

The textile sector, a significant component of the market category on PSX, continues to monitor developments in this case closely. The ongoing suspension underscores regulatory efforts to maintain transparency and accountability within the financial market.