Sitara Peroxide eyes plant restart after debt repayment
MG News | October 07, 2026 at 12:34 PM GMT+05:00
October 07, 2026 (MLN): Sitara Peroxide Limited (PSX:SPL)has
repaid all its bank liabilities except a nominal amount owed to one bank, and
is working towards restarting its shut plant after completing balancing,
modernization and replacement (BMR).
In a progress report sent to the
Pakistan Stock Exchange (PSX), the company said the plant was closed to avoid
heavy operational losses, clear bank debt to cut finance costs, and carry out a
comprehensive BMR of its plant and machinery in the long-term interest of the
company and all its stakeholders.
The company said it cut all types of
expenses during the shutdown and cleared its bank dues. Its management is now
pushing ahead with BMR, aiming to start operations in the foreseeable future.
On funding, the company said
management is actively pursuing fresh financing through equity, bank
borrowings, or both. Alongside this, it is in talks with the technology
provider and engineering companies.
The company asked PSX to take into
account the progress made by management and its firm commitment to resuming
operations.
The aforementioned information was disseminated through a notification to
Exchange.
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