Ruby Textile Mills Limited (PSX: RUBY) has issued a statement informing the Pakistan Stock Exchange (PSX) that the management is actively working on solutions to resume operations. However, the company has highlighted the growing challenges due to the ongoing economic distress and restrictions on Letter of Credit (LC) policies. These factors are making it increasingly difficult to operate effectively.
Despite these challenges, the company has assured that efforts are being made to explore different feasibilities aimed at improving the situation and getting the business back on track. The company, which primarily engages in the manufacturing and sale of yarn, has also been classified as non-compliant on the PSX website.
