PSX withholds action against PECO after company submits cheque for penalty
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MG News | October 13, 2026 at 10:20 AM GMT+05:00
October 13, 2026 (MLN): Pakistan Engineering Company Limited (PSX:PECO)
has avoided immediate action from the Pakistan Stock Exchange (PSX) after it
submitted a cheque for the penalty it had earlier failed to pay, with the
exchange holding back compulsory buy-back directions to its majority
shareholders and sponsors until the cheque clears.
If the company fails to fix the
non-compliance, PSX will issue the buy-back directions to the sponsors having
control of the company.
If PECO does rectify it, the Risk
Warning Alert (RWA) against it will be withdrawn, although the company will
stay in the Non-Compliant Segment.
PSX said in a notice that this follows
its earlier Notice No. PSX/N-882 of July 14, 2026, which placed an RWA on PECO
for not paying the penalty imposed under Clause 5.21.1 of the PSX Regulations
within the stipulated time.
The exchange noted that PECO had shown
improvement towards rectifying its non-compliance with Clause 5.11.1(d) of the
Regulations by submitting the cheque.
It is therefore withholding further
action under Clause 5.11.3, namely the issuance of buy-back directions under
Clause 5.11.3(e), pending clearance of the cheque.
The exchange added that the company’s
continued listing in the Non-Compliant Segment falls under Clause 5.11.1(g) and
advised all concerned to take note.
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