Fateh Sports Wear's operational struggles persist as $2m remains unreleased

MG News | July 08, 2024 at 11:27 AM GMT+05:00

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July 08, 2024 (MLN): Fateh Sports Wear Limited (PSX: FSWL) is actively pursuing the release of the stuck amount of $2 million and anticipates a swift resumption of operations once the stay order is vacated in the near future, as revealed in the company's progress report for Q2 CY24 issued to local bourse today.

Meantime, the management of the company has developed a marketing strategy to promote and sell products to the International Market.

Moreover, the company has already started making contacts with the buyers to obtain export orders and is quite hopeful that on the receipt of stuck-up funds and availability of working capital, production activities will start soon.

"Further progress reports will be submitted by the 5th day of every quarter," the notice concludes.

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