Karachi: The Pakistan Stock Exchange (PSX) announced on Tuesday that it will continue the suspension of trading in the shares of six companies, following their failure to address multiple regulatory non-compliances. The companies affected by this decision are Abson Industries Ltd., Prudential Stocks Fund Ltd., English Leasing Ltd., Sadoon Textile Industries Ltd., Hakkim Textile Mills Ltd., and Suraj Ghee Industries Ltd. This action marks an extension of a previous suspension notice issued on March 27, 2025.

The decision to maintain the trading suspension was made under the authority of Sub-Section (7) of Section 19 of the Securities Act, 2015, as well as clause 5.11 of the PSX Regulations. According to information available from the Pakistan Stock Exchange (PSX), the companies have not yet resolved the issues that led to the initial suspension. These issues include the failure to hold Annual General Meetings, non-submission of annual audited accounts, non-payment of dues to the Exchange, and the non-induction of ordinary shares into the Central Depository System (CDS).

Abson Industries Ltd. is under scrutiny due to a court-appointed official liquidator, resulting from a winding-up petition filed by creditors. Similarly, Prudential Stocks Fund Ltd. and English Leasing Ltd. are both facing court petitions for winding-up filed by the Securities and Exchange Commission of Pakistan (SECP).

Sadoon Textile Industries Ltd. is also facing winding-up proceedings, initiated by an order from the SECP. Meanwhile, Hakkim Textile Mills Ltd. and Suraj Ghee Industries Ltd. are subject to winding-up petitions filed in court by the SECP, with Suraj Ghee Industries Ltd. additionally facing petitions from its creditors.

The trading suspension will remain in effect until the companies rectify the causes of their non-compliance or for an additional period of 60 days commencing May 29, 2025. These proceedings fall under the designated market category of regulatory compliance and enforcement.