Non-operational status persists for BIFL due to economic conditions, capital shortage

MG News | April 08, 2024 at 11:29 AM GMT+05:00

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April 08, 2024 (MLN): Bilal Fibres Limited (PSX: BILF) continues to be non-operational due to adverse macroeconomic conditions coupled with the shortage of working capital as stated by BIFL in its progress report issued to the domestic stock market today.

The report highlights that the adverse economic condition of Pakistan has continuously been facing different challenges that have resulted in the closure of further many textile units.

Meanwhile, BILF has assured to report all developments comprehensively in the Quarterly progress report to the esteemed Exchange.

In light of the above, it has requested PSX to remove the company from the Defaulter’s Segment.

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