KSTM struggles to resume operations amid economic pressures

MG News | July 15, 2024 at 03:25 PM GMT+05:00

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July 15, 2024 (MLN): Khalid Siraj Textile Mills Limited (PSX: KSTM) continues to face operational delays due to economic challenges, including high electricity costs, interest rates, and low demand.

The management is “anxiously working upon the foremost solution to initiate operation, but unfortunately due to economic distress and held LCs policies, the situation is becoming tougher,” the company said in a notice to the Pakistan Stock Exchange on Monday.

Further, the company said that the management is working on different feasibilities to improve the scenario and bring the business back on track.

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