SANE's operations remain suspended amid ongoing political instability
MG News | January 05, 2024 at 05:05 PM GMT+05:00
January 05, 2024 (MLN): Salman Noman Enterprises Limited (PSX: SANE) continues to face suspension of operations due to the instability and adverse political situation, as highlighted by the company in its progress report issued to the local bourse today.
Despite all these circumstances, the company’s management is actively pursuing different options for the revival of the operations.
Moreover, the company is in litigation with all the banking companies in the court of law and there is no credit limit available to the company to run its operations again.
It is important to mention that for the revival of the business, the management of the entity had given an advertisement on June 09, to invite the investor.
However, the response from investors is very slow and delayed.
The company's management remains confident that they will get success to start the operations again.
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