March 06, 2023 (MLN): The base plant of Engro Fertilizers Limited (PSX: EFERT) is undergoing an unplanned shutdown from March 4, 2023, the notification issued to PSX revealed on Monday.
The company has commenced relevant analysis to understand the root cause and is undertaking appropriate measures to resume operations at the earliest, the notice read.
EFERT is a major player in the fertilizer industry in Pakistan and has a significant impact on the country's agricultural sector.
The unplanned shutdown of the company's base plant has raised concerns about the supply of fertilizers and its impact on the agriculture sector.
The company has assured that it is taking all necessary steps to resume operations and is keeping the local bourse informed about the situation as it evolves. The company's top priority is to resume operations in a timely manner.
The reason behind the unplanned shutdown is currently unknown, and the company's analysis will shed light on the root cause.
This development is likely to have a significant impact on the company's financials and reputation.
The market will be watching closely for any updates on the situation and how the company plans to mitigate the impact of the shutdown on its business and the wider agriculture sector in Pakistan.
