Non-operational status persists for BILF in Q3CY24

By MG News | Category Equity | October 02, 2024 at 01:04 PM GMT+05:00

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October 02, 2024 (MLN): Bilal Fibres Limited (PSX: BILF) continues to be non-operational due to the adverse economic condition of Pakistan, as stated by BIFL in its progress report for Q32024 issued to the domestic stock market today.

The report highlights the company's ongoing challenges with working capital and prevailing political instability, litigation with the banking companies and high manufacturing costs.

As a result, it remains impossible for us to commence operations in the near future.

Despite these challenges, the directors and management are actively working to navigate the situation and restore operations.

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