Bilal Fibres requests PSX to remove from defaulter’s list

MG News | April 07, 2022 at 10:00 AM GMT+05:00

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April 07, 2022 (MLN): Bilal Fibres Limited (BILF) has requested Pakistan Stock Exchange (PSX) to remove the company’s name from the defaulter’s segment as the company is working on the revival of its operations, the company said in its quarterly progress report.

The company is in the process of finding international and local investors for a joint venture.

“However, due to current political instability and uncertainty, the business conditions are not favourable and so we are facing various obstacles,” it said.

We expect that the company will be in a position to resume business operations as and when the political scenario will be clear and steps would be taken by APTMA and other concerned departments to facilitate the textile sector.

Based on the above, the company asked PSX to remove the company's name from the defaulter's segment.

The company will continue notifying its efforts and the developments in the quarterly progress report.

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