Sitara Peroxide substantially repays liabilities, plans BMR
MG News | July 06, 2026 at 02:31 PM GMT+05:00
July 06, 2026 (MLN): Sitara Peroxide Limited (PSX:SPL) has substantially
repaid its liabilities to financial institutions in order to reduce its
financial burden and strengthen its financial position for obtaining fresh
funding through equity and/or bank borrowings.
The company said its plant was shut down to prevent continuous
operational losses and to undertake the complete Balancing, Modernization and
Replacement (BMR) of the plant and machinery in the long-term interest of all
stakeholders.
The management is actively engaged with financial institutions and
potential investors to secure the requisite funding, while negotiations are
underway in parallel with the technology provider, the company said.
The company requested the Pakistan Stock Exchange to take into
consideration the progress achieved by the management, adding that it remains
committed to completing the BMR at the earliest and resuming operations.
It said it shall keep the exchange informed of any further developments
in this regard.
The aforementioned information was
disseminated through a notification to Exchange.
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