Karachi: The Pakistan Stock Exchange (PSX) has announced that the trading suspension in shares of Gulistan Textile Mills Limited will continue due to unresolved regulatory non-compliances. According to information available from the Pakistan Stock Exchange (PSX), this decision follows the initial suspension notice (PSX/N-660) dated July 11, 2024. The company has failed to address the causes of suspension cited in the notice, including suspension of its principal commercial production, non-payment of dues to the Exchange, and a winding-up petition filed by creditors.

The ongoing suspension, effective from September 10, 2024, will extend for another 60 days or until the company rectifies the issues leading to this regulatory action. This measure is taken under Sub-Section (7) of Section 19 of the Securities Act, 2015, and clause 5.11 of the PSX Regulations, aiming to ensure compliance and protect investor interests.