Millat Tractors Limited (MTL) has decided to halt production every Friday due to reduced demand for tractors in the country.
In a notice to Pakistan Stock Exchange (PSX), the company said that it will observe Fridays as nonproduction days from December 16, 2022, till further notice.
The filing cited reduced demand for tractors in the country as the main reason for the aforesaid decision.
At the time of filing, the company’s scrip at the bourse stood at Rs. 553.01, down Rs. 17.63 or 3.09 percent on Thursday.
Pakistan Refinery Limited (PRL) announced on Friday that it would close its refinery for 20 days.
Kohinoor Spinning Mills Limited (PSX: KOSM) yesterday decided to halt production activities, while Attock Refinery Limited (PSX: ATRL) temporarily closed its main distillation unit on Tuesday.
