Gulistan Textile Mills Limited has submitted a progress report indicating that the company remains non-operational as it undergoes a Scheme of Arrangement sanctioned by the High Court of Sindh for asset liquidation to settle liabilities.
- The company has not engaged in any commercial production or business operations during the quarter ended September 30, 2026.
- All assets are being sold under the supervision of an Asset Sale Committee, with proceeds distributed among secured creditors on a pari passu basis.
- No measures have been taken for resuming operations, and the company does not foresee any changes in its operational status in the near future.