Bolan Castings Extends Production Shutdown

Bolan Castings Limited (PSX: BCL) has extended its production suspension until June 13, 2025, as demand from the tractor industry continues to weaken. In a filing to the Pakistan Stock Exchange on Thursday, the company stated that the adverse market conditions cited in its earlier notice on May 9 still persist, primarily due to the ongoing lack of customer orders linked to the downturn in the agricultural machinery sector. Bolan Castings, a key supplier of parts to tractor manufacturers, initially halted its operations in early May. The continued suspension reflects the broader challenges facing the local auto and agricultural equipment industries, which have been grappling with declining sales and macroeconomic pressures. The company did not indicate when conditions might improve or when full operations could resume.