Karachi: The Pakistan Stock Exchange (PSX) has announced an extension in the suspension of trading for M/s. Mubarak Textile Mills Limited due to ongoing non-compliance issues. This decision follows a previous notice, PSX/N-123, dated January 27, 2025, and highlights the company's continued challenges in meeting regulatory requirements.

The decision to maintain the suspension stems from the company's failure to address specific compliance breaches related to the PSX Regulations. These include the suspension of commercial production and business operations in its principal line of business, an adverse opinion issued by the statutory auditor on the financial statements, and a winding-up petition filed against the company by the Securities and Exchange Commission of Pakistan (SECP).

According to information available from the Pakistan Stock Exchange (PSX), the suspension will remain in effect until the company rectifies these compliance issues or for a further period of 60 days, beginning March 29, 2025. The measures have been enforced under the powers granted to the Exchange by Sub-Section (7) of Section 19 of the Securities Act, 2015, and clause 5.11 of the PSX Regulations.

Mubarak Textile Mills Limited is categorized under the textile sector of the designated market. The company's inability to comply with the necessary regulations has prompted regulatory action, with the aim of ensuring transparency and protecting investors.