Salman Noman Enterprises struggles to resume operations amid litigation

MG News | July 10, 2023 at 02:47 PM GMT+05:00

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July 10, 2023 (MLN): Salman Noman Enterprises Limited (PSX: SANE) unveiled in its progress report that due to the instability and bad political situation the operations of the company are still closed, the company’s filing to the PSX showed today.

“It seems very difficult to start the operations immediately. In spite of all these circumstances our management is actively pursuing different options for revival of the company’s operations,” it added.

The company is in litigation with all the banking companies in the court of law and there are no credit limits available to the company to run its operations again.

However, For the purpose of revival of the business, the company has given an advertisement on June 09, 2023, in the daily “Minute Mirror” to invite investors.

The management of the company is very confident that they will get success to start operations again, and will continue notifying the efforts and developments in the quarterly progress report, the report added.

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