KARACHI: Sitara Chemical Industries Limited has issued a clarification in response to recent media reports concerning the registration of a First Information Report (FIR) by the Federal Investigation Agency (FIA), stating that the allegations do not relate to the company’s business or operations.
In a material information notice submitted to the Pakistan Stock Exchange (PSX), the company explained that while its Chief Executive Officer has been named in the FIR, the allegations primarily concern the affairs and operations of another company that is not associated with Sitara Chemical Industries Limited. The company emphasized that any reports suggesting otherwise are factually incorrect.
Sitara Chemical further stated that the FIR merely records allegations and that no findings, determination, or judgment have been made by any competent court or authority. The company and its CEO have categorically denied all allegations related to them and have expressed their intention to pursue all appropriate legal remedies to safeguard their rights and interests.
The company also reassured shareholders and stakeholders that its manufacturing operations and business activities continue uninterrupted in the ordinary course of business. According to the statement, the matter has had no adverse impact on the company’s day-to-day operations.
Sitara Chemical said the clarification was being issued to ensure transparency and to address any misconceptions arising from media coverage, reaffirming its commitment to maintaining business continuity and protecting shareholder interests.
