Millat Tractors to resume its operations from Monday

MG News | January 13, 2023 at 10:25 AM GMT+05:00

0:00

January 13, 2023 (MLN): Millat Tractors Limited (PSX: MTL) will resume its operations from January 16, 2023, the company filing's on PSX showed.

To recall, on January 05, 2023, the company decided to close its operations due to a notable reduction in demand for tractors and cashflow constraints.

Sales of tractors in the month of December decreased by 18.15% MoM to 1,015 units, as per the latest data released by Pakistan Automobile Manufacturers Association (PAMA).

The leading tractor company is engaged in assembling and manufacturing agricultural tractors, implements, and multiapplication products. MTL is also involved in the sale, implementation, and support of IFS applications in Pakistan and abroad.

At the time of writing the script, the company is being traded at Rs516.50, down by Rs2.18 to 0.42% DoD.

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