Sitara Peroxide Ltd Suspends Production for 3 More Weeks

Sitara Peroxide Limited (PSX: SPL) has extended the suspension of operations for another three weeks, the company informed the Pakistan Stock Exchange (PSX) on Wednesday. “In pursuant to provisions of clause 5.6.1(a) of Rule Book of Pakistan Stock Exchange (PSX), section 96 and 131 of the Securities Act, 2015, we would like to inform that the management has decided to extend the suspension of plant operation for another three weeks,” the filing stated. “Moreover, the management is hopeful that the current scenario will get better, enabling the company to resume its production activities after three weeks,” it added. This comes in continuation of SPL’s July update when the company extended the suspension of its plant operation for two weeks. The company at the time blamed it all on the non-availability of raw materials and chemicals. SPL has so far had a quiet year after initially stopping production activities in January 2023. Later on February 14, it extended the suspension of plant operations and production activities for 10 more days before rebooting again on February 24.