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Nishat Chunian announces shutting down operations partially

Nishat Chunian announced on Wednesday to shut down operations partially from January!

As reported, the textile giant Nishat Chunian Limited (NCL) announced that it will partially shut down its spindles in January, citing market conditions.

In a statement to the Pakistan Stock Exchange (PSX), the textile manufacturer informed that the spindles would restart operations after improvement in market conditions.

“The company has an installed capacity of 219,528 spindles and 2,880 rotors in its spinning division. The company has decided to temporarily close 51,360 spindles after one month, due to current market conditions,” Nishat stated.

“However, the remaining units are operating normally,” the statement said, adding, “The company will restart these spindles as soon as market conditions improve.”

Saman Siddiqui

Saman Siddiqui, A freelance journalist with a Master’s Degree in Mass Communication and MS in Peace and Conflict Studies. Associated with the media industry since 2006. Experience in various capacities including Program Host, Researcher, News Producer, Documentary Making, Voice Over, Content Writing Copy Editing, and Blogging, and currently associated with OyeYeah since 2018, working as an Editor.

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