March 22, 2023 (MLN): Bannu Woollen Mills Limited (PSX: BNWM) will temporarily halt its production activities from March 25, 2023, to May 5, 2023, due to the current economic situation.

The company has cited the inability of banks to issue letters of credit (LCs) for the import of raw materials as the primary reason for this decision.

This move is expected to affect the company's production output and revenue for the period in question.

However, the management has confirmed that production activities will resume from May 6, 2023, and any further updates on the situation will be communicated to stakeholders accordingly.

Copyright Mettis Link News

Posted on: 2023-03-22T14:21:29+05:00