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Khalid Siraj halts production amid bleak macros

Khalid Siraj halts production amid bleak macros
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March 27, 2023 (MLN): Khalid Siraj Textile Mills Limited (PSX: KSTM), one of the leading textile mills in the region, has taken a tough decision to halt its mill operations until May 31, 2023, the company's filing on PSX showed today. 

The decision came in light of the prevailing political unrest, import restrictions, and an unchecked surge in the value of the dollar.

These factors have increased inflation, undermined the rupee, driven up cotton prices, driven up the cost of electricity per unit, and, most importantly, harmed business confidence, it added.

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Posted on: 2023-03-27T10:30:22+05:00