Maqbool Textile Mills Limited has announced the temporary closure of three of its spinning units due to the continued unviability of spinning operations under prevailing economic conditions. The disclosure was submitted to the Pakistan Stock Exchange (PSX) in accordance with the Securities Act, 2015 and applicable listing regulations.
According to the company’s statement, Spinning Units No. 1, 2, and 4 have been shut down until further notice. However, Spinning Unit No. 3 will remain operational, allowing the company to maintain a limited level of production while assessing market conditions.
The company cited unfavorable economic circumstances as the primary reason behind the decision, stating that it is currently unable to continue full-scale production activities across all its units. Management indicated that it will continue to closely monitor the situation and evaluate future operational strategies based on economic developments and business viability.
This move reflects the broader challenges faced by Pakistan’s textile sector, including rising production costs, energy expenses, and market uncertainties. Industry stakeholders will be watching closely to see whether improving economic conditions can support the resumption of operations at the affected units.
Maqbool Textile Mills emphasized that the closure is temporary and that the company remains committed to reviewing the situation regularly before making any further decisions regarding its production facilities.
