Karachi: The Pakistan Stock Exchange (PSX) has announced a continued suspension of trading in the shares of four companies due to unresolved regulatory defaults. As of November 3, 2025, the companies have not rectified the issues that led to the suspension, resulting in an extension of the trading halt, effective from November 4, 2025, for an additional 60 days or until compliance is achieved.

The affected entities include M/s. Gulistan Textile Mills Limited, M/s. Progressive Insurance Company Limited, M/s. Itanz Technologies Limited (formerly Zahur Cotton Mills Limited), and M/s. Silver Star Insurance Company Limited. These companies are facing suspensions under various provisions of the PSX regulations, primarily due to the cessation of commercial production or business operations in their principal lines of business and non-payment of dues to the Exchange.

M/s. Gulistan Textile Mills Limited and M/s. Progressive Insurance Company Limited are additionally embroiled in legal challenges, including winding-up petitions filed in court by creditors and the Securities and Exchange Commission of Pakistan (SECP), respectively.

According to information available from the Pakistan Stock Exchange (PSX), M/s. Itanz Technologies Limited has made progress in addressing the reasons for its trading suspension and is currently working towards fulfilling the requirements necessary for the restoration of its share trading.

M/s. Silver Star Insurance Company Limited, on the other hand, has failed to hold its Annual General Meetings and submit the required annual audited accounts, resulting in its continued suspension from trading.

The PSX’s decision to maintain the suspension is based on the authority granted under Sub-Section (7) of Section 19 of the Securities Act, 2015, and Clause 5.11 of the PSX Regulations. The Exchange emphasizes that trading will remain halted until the companies rectify the causes of suspension, aligning with regulatory requirements.