Karachi December 3 2021: Arshad Energy inform that current furnace prices are not feasible for the plant operations, hence, the plants are still having no production, as per information shared by the company at Pakistan Stock Exchange (PSX).
“To restart the operations of the company management is continuously monitoring fuel prices and sales rates” says company’s Chief Financial Officer Mr.Muhammad Arshad.
A L S O || R E A D
Systems Limited Hit Lower Circuit As It Calls Extraordinary Meeting To Double Its Authorized Capital: PSX
Earlier the company disclosed that the drastic increase in the prices of furnace oil has significantly increased the generation cost. Further, the huge repair cost makes the generation non-viable. The situation has forced management to temporarily close down the operations of the company.
Management of Arshad Energy was considering various proposals for the restructuring of the company and all these proposals are under consideration to make it workable. The management was hopeful that the restructuring plan will be finalized before Oct 31, 2021.