Nishat Chunian is one among Pakistan’s largest textile corporations, enlightened investors on Wed that it absolutely was briefly closing off some spindles attributable to market conditions.
In a West Pakistan securities market filing, Nishat Chunian limited (NCL) expressed, “The company has associate capability of 219,528 spindles and a pair of,880 rotors in its spinning division. Company has set to briefly shut 51,360 spindles because of market conditions.”
It mentioned the remaining units would still operate as it is, whereas the spindles that were being pack up would be restarted when the market conditions are improved.
Nishat Chunian is that the latest during a line of corporations that have briefly suspended operations. Others include Indus Motor Company, the maker of Toyota vehicles, Pak Suzuki Motor Company Ltd, Bolan Castings ltd and Balochistan Wheels Ltd. Millat Tractors, has been observant non-production days since Dec 16.
