Published On: Thu, Oct 11th, 2018
Published in Category: Rawalpindi

PSX puts PIA in defaulter segment

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Rawalpindi: Pakistan Stock Exchange (PSX) has put Pakistan International Airline (PIA) into defaulter segment.

PIA has been placed in defaulter segment for not calling yearly meeting for the year ending 31st December 2017 and filing annual audit of accounts.

It is stated in the notification issued by PSX that if a company doesn’t call up final meeting at the end of year or it doesn’t submit the fiscal year’s annual accounts audit then it will be put in defaulter segment.

According to the notification, PIA has been put in defaulter segment on October 10, 2018 as per article 5.11.1 C & D of PSX regulations.

After appropriate order, buying and selling of PIA’s shares stands suspended since today in stock exchange and suspension will continue for 90 days.

PIA hasn’t submitted the details of annual accounts for last 2 years.

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