Dost Steels Limited has announced that it has been unable to resume commercial operations this year due to insufficient working capital.
In a progress report submitted to the Pakistan Stock Exchange (PSX) on Tuesday, the company attributed its inability to restart full-scale production to ongoing financial challenges.
“Unfortunately, the company has been unable to resume its commercial operations this year due to insufficient working capital. Despite ongoing efforts, financial constraints have hindered our ability to restart full-scale production,” Dost Steels said in its progress report.
The management stated that discussions are underway with a syndicate of banks to settle outstanding debts. Resolving these financial issues is critical to restoring operations and ensuring the company’s long-term growth.
