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Karachi, In a recent development, D.M. Textile Mills Limited has submitted its quarterly progress report under PSX Regulation 5.11.2(b) for the quarter ending 30 September 2023. The report highlights the company’s efforts to navigate the challenging economic and political environment.
Despite facing increasing economic and political challenges, D.M. Textile Mills Limited has been committed to utilizing its available resources effectively. One notable achievement is the company’s successful repayment of all long-term liabilities owed to banks, marking a significant milestone in its financial recovery journey.
However, the company is currently grappling with limited income, making it difficult to cover day-to-day expenses. Despite these financial constraints, the management remains optimistic and determined to revitalize the company, provided there is an improvement in the overall business environment.
Expressing concern over their current situation, the company has appealed to the Pakistan Stock Exchange (PSX) to reconsider its classification on the “defaulter segment.” They believe that this classification is exacerbating their financial challenges and hindering their recovery efforts. D.M. Textile Mills Limited has reached out to the PSX, urging them to remove their name from the defaulter segment and provide the necessary support to help the company regain its financial footing.
The request to the PSX reflects the company’s commitment to weathering the economic storm and its hope for assistance to overcome the current difficulties. The PSX will now review the situation and consider the company’s plea in light of the challenging economic landscape.
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