Karachi: The Pakistan Stock Exchange (PSX) announced on July 3, 2025, the continued suspension of trading in shares of three companies due to unresolved regulatory defaults. The companies affected include M/s. Haydari Construction Company Limited, M/s. Mohammad Farooq Textile Ltd, and M/s. Saudi Pak Consultancy Company Limited. This decision follows notices issued by the PSX in May 2025, highlighting the companies' failure to address significant compliance issues.

M/s. Haydari Construction Company Limited and M/s. Mohammad Farooq Textile Ltd are both cited for failing to hold their Annual General Meetings, not submitting annual audited accounts, non-payment of dues to the Exchange, and being subject to winding-up petitions filed by the Securities and Exchange Commission of Pakistan (SECP) in court. M/s. Saudi Pak Consultancy Company Limited faces suspension for halting its principal business operations, receiving a disclaimer of opinion from its statutory auditor, and having its Non-Banking Finance Company (NBFC) license canceled by the SECP.

According to information available from the Pakistan Stock Exchange (PSX), the trading suspension will persist until the companies rectify the causes of suspension or until another 60-day period concludes, effective from July 6, 2025. The PSX's decision is executed 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 situation represents a significant move within the designated market category, affecting shareholders and the companies' market positions. The PSX's regulatory actions aim to ensure compliance and accountability within the marketplace, reflecting the Exchange's commitment to upholding its regulatory framework.