Crescent Jute Products pins future hopes on fund unlocking

MG News | January 09, 2024 at 12:08 PM GMT+05:00

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January 09, 2024 (MLN): Crescent Jute Products Limited (PSX: CJPL) is seeking funds from sponsors, and directors, and the company's future plan is based on the successful unlocking of these funds, as highlighted in the company’s progress report issued to the local bourse today.

The company has also requested the PSX to grant some time for the availability of funds.

Once the funds are secured, the future business plan will be presented to the Board of Directors (BoD) for their approval.

It is important to mention that CJPL is currently under the defaulter segment.

Moreover, the company is engaged in the manufacturing and sale of jute products including jute bags.

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