Bolan Castings Limited Announces Production Halt Amid Sales Decline and Payment Delays

Karachi: Bolan Castings Limited has declared an immediate halt in production activities starting from Monday, August 26, 2024, due to significant reductions in customer orders and delayed payments causing financial difficulties. According to information available from the Pakistan Stock Exchange (PSX), the company, listed under the Industrial Manufacturing category, cited a sharp decline in sales and payment issues from a principal customer as key factors for this decision.

The notification, complying with clause 5.6.1 (a) of the PSX Rule Book and Sections 96 and 131 of the Securities Act of 2015, indicates the severe impact of these challenges on the company’s operations. The management’s decision to suspend production is aimed at stabilizing the financial position until a more favorable business environment emerges.

TRE Certificate holders of the Exchange have been informed of these developments. The resumption date of production activities will be announced in due course.

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