Century Paper and Board Mills Ltd reports industrial accident on its premises

March 02, 2020: Board of Directors of Century Papers & Board Mills Limited here Monday reported to Pakistan Stock Exchange (PSEX) the accident that occurred Saturday, affecting the biomass fired steam boiler (7 tons per hour) causing six deaths and few injuries.

Sharing details of the incident with the Pakistan Stock Exchange Limited and The Securities Exchange Commission of Pakistan, in accordance with sections 96 and 131 of the Securities Act 2015 along with relevant provisions of the Rule Book of PSEX, Tasleemuddin A Batlay, representing the BOD, also referred to rescue operation initiated immediately after the mishap.

Registering extreme sorrow and grief, it was mentioned that rescue operation, jointly undertaken by factory team and government rescue department managed to complete the operation in a few hours.

Management of the mills was said to be determined to discharge all its obligations not only under relevant laws but also on humanitarian grounds and that all needed assistance to the injured workers and bereaved families was being provided.

According to Batlay an immediate assessment was carried out by the factory management on the basis of which it was concluded that the incident will not have any serious impact on the production and the Company does not foresee any shortage in supply of its products to its customers.

The assets damaged were cited to be adequately insured therefore the management expects a minimal amount of financial loss on this account. Further investigations were also said to be continuing.

APP