Sajjad Textile Mills Limited informed Pakistan Stock Exchange that implementation on business plan was dependent on availability of liquidity from sale proceed of assets. Assets of the Company are still not sold due to non-availability of reasonable buyer. Management is trying to find reasonable buyer and after the sale of the assets and paying off partial liabilities, they will start implementation on approved alternate business plan.

The announcement is available at:

https://dps.psx.com.pk/download/attachment/142717-1.pdf

Sajjad Textile Mills Limited is a spinning company incorporated on June 12, 1988. It is a public limited company engaged in producing yarn. The registered office of the company is located in Lahore. The company is listed on the Karachi and Lahore Stock Exchanges of Pakistan.

The products of the company include combed and carded yarn, single and double ply yarn, waxed and un-waxed yarn and knitting and weaving twist cotton yarn. The company has its operating facilities at 64-Km Multan Road, District Kasur.

The symbol "SJTM" is being used by the stock exchange for the shares of Sajjad Textile Mills Limited.

© Pakistan Press International, source Asianet-Pakistan