AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
LAHORE: Mubarak Textile Mills Ltd., a company listed on the Pakistan Stock Exchange, announced on October 2, 2024, that it has not yet begun commercial production or business operations. The notification came as a response to a query from the Listed Companies Compliance Department at the Pakistan Stock Exchange (PSX).
According to information available from the Pakistan Stock Exchange (PSX), the company responded to an official inquiry with a progress report that clearly states there has been no commencement in their main business line, which is textile manufacturing. This disclosure was in response to the letter PSX/Gen-1358 dated September 30, 2024, inquiring about the status of the company’s activities.
Mubarak Textile Mills, located 20 kilometers off Ferozepur Road, Lahore, has been under scrutiny by market regulators seeking updated information on its operational status. The lack of commencement of production and business operations could be a significant concern for investors and stakeholders monitoring the company’s progress.
The company’s secretary affirmed in the communication to Miss Zeest Zehra Jatoi, Officer at the Listed Companies Compliance Department—RAD, that the company has not moved forward with its commercial activities. This stagnation in starting its business operations leaves its financial and operational future uncertain.