Kohinoor Spinning halts production activities amid high cost

MG News | December 14, 2022 at 01:19 PM GMT+05:00

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December 14, 2022 (MLN): In the backdrop of the rising cost of production, the management of the Kohinoor Spinning Mills Limited (PSX: KOSM) has decided to close the production activities of the company with immediate effect, the company filing on PSX showed today.

“Due to prevailing global and economic downturn, overdue plant maintenance, high cost of production, and low price and demand, it is not feasible to operate the production facility,” the notification read.

The management is hopeful that the current situation will improve in the first quarter of 2023 enabling the company to restart its operations.

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