July 06, 2026 (MLN): Sitara Peroxide Limited (PSX:SPL) has substantially repaid its liabilities to financial institutions in order to reduce its financial burden and strengthen its financial position for obtaining fresh funding through equity and/or bank borrowings.

The company said its plant was shut down to prevent continuous operational losses and to undertake the complete Balancing, Modernization and Replacement (BMR) of the plant and machinery in the long-term interest of all stakeholders.

The management is actively engaged with financial institutions and potential investors to secure the requisite funding, while negotiations are underway in parallel with the technology provider, the company said.

The company requested the Pakistan Stock Exchange to take into consideration the progress achieved by the management, adding that it remains committed to completing the BMR at the earliest and resuming operations.

It said it shall keep the exchange informed of any further developments in this regard.

The aforementioned was disseminated through a notification to Exchange.