PIA placed on PSX defaulter segment

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KARACHI: The Pakistan Stock Exchange (PSX) issued a notice on Wednesday announcing that it has placed Pakistan International Airlines (PIA) on its defaulters’ segment.

According to the notice, the national flag carrier was placed on the list for failure to hold an annual meeting and submit a statement of audited accounts for the year ending Dec 2017.

According to the notice, if a company fails to hold an annual general meeting or submit a statement of audited accounts for two consecutive years, “trading in shares of the company shall be suspended immediately by the Exchange”.

It added that the company could be given 90-days to resolve “non-compliance” after which further action could be taken.

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