Business
Suhail Jute Mills : Progress Report for the quarter ended 30.06.2025
Suhail Jute Mills : Progress Report for the quarter ended
About this update from Suhail Jute Mills Ltd.
[{"type":"text","content":"\n hll Jkl9$llllS J1E1(9§\n \n \n of Hessian Cloth. Twinn\n t. Hafiz Maqsood uunshi\n stock E toClt Exchange Road\n Manager, Companies and Securities Compliance-RAD Pakistan StOClt Exchange Limited\n Xchange Building,\n WCHI-74000\n P_R E REPORT FOR THE UARTER ENDED 30 J\n progress report.\n Reference tO $OUF letter No.Gen-1394 Dated July 16, 2025 received on July 21, 2025 regarding\n \n \n We are pleased IO provide you with a progress report in respect of Suhail Jute Mills Ltd., for the\n quarter ended 30 June 2025\n Despite our best efforts, there has been no meaningful progress in respect of the sale of land\n the quarter under report. This is due primarily to the security situation and the political and\n economic uncertainties prevailing in Khyber-Pakhtunkhwa.\n As we\n \n \n entirely\n \n \n have been reporting previously,the commencement of commercial operations depends upon raising adequate financing for working capital and the settlement of outstanding\n obligations to creditors, including institutions who have secured\n As reported earlier, a Plan was presented to the SECP and the viability of the plan was accepted by the SECP after being duly scrutinized. Based on their recognition of the viability of the proposed Plan, the SECP, on 18 April 2023, concluded their proceedings against the Company initiated under Section 304 of the Companies Act 2017.\n \n \n The Plan for Land development involves conversion of existing Land to smaller sized industrial\n plots. This proposal entails the outright sale of 20 acres of land for approximately RS 480\n million, with the funds generated from the sale, in turn, being applied to the costs of converting\n kanals of Land into Industrialplots of different sizes; it is estimated that the proceeds from\n the sale of re-sized plots would be approximately RS 2.5 Billion,\n Cont/P-2\n M rep rted earlier, the available for salefollowing the\n therer Of (Colony) Sarhad Textile Jute Mills Limited. Additionally,\n e COmpany owns a fully functional , which has been maintained in\n U**!*g order.The existing unitis capable of generating revenue, once working capital becomes\n available, andcommercial production recommences.\n lt is Projected that the finances generated from the sale of land would be sufficient to cover the MOst pressing and immediate liabilities and leave the Company with suffi...