Karachi: The Pakistan Stock Exchange (PSX) has announced the continuation of the trading suspension for M/s. Mohammad Farooq Textile Mills Limited, following the company’s failure to address several compliance issues. The suspension, initially communicated in PSX Notice No.PSX/N-252 dated March 07, 2025, will be extended for an additional 60 days starting May 07, 2025.

The textile firm has not held its mandatory Annual General Meetings nor submitted its annual audited accounts, actions required under sections 5.11.1.(b)(c)(d) and 5.11.2.(b) of the PSX Regulations. Additionally, the company has outstanding dues to the Exchange, and a winding-up petition has been filed against it by the Securities and Exchange Commission of Pakistan (SECP) in court.

According to information available from the Pakistan Stock Exchange (PSX), the decision to prolong the suspension was taken under the authority granted by Sub-Section (7) of Section 19 of the Securities Act, 2015, and in accordance with clause 5.11 of the PSX Regulations.

The trading suspension will remain in effect until the company rectifies the issues that led to the initial suspension or until the end of the 60-day extended period. The situation continues to be monitored by the authorities to ensure compliance with the regulatory framework established by the PSX.