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Pakistani Can Maker to Incur Heavy Export Losses Due to Disruptions At Pak-Afghan Border

Pakistan Aluminium Beverage Cans Limited (PSX: PABC) expects to incur an impact on its revenue from exports to Afghanistan due to logistical disruptions at Chamman, the can maker informed the main bourse on Wednesday.

‘Due to ongoing security issues at Chamman, we are experiencing logistical disruptions and a shortage of vehicles for our exports to Afghanistan, which may impact revenue from Afghan exports,’ the stock filing stated.

It added, ‘Coupled with the near 25 percent YoY decline in local order bookings, we expect a negative impact on our order bookings during the peak season’.

PABC has been listed on the Pakistan Stock Exchange since July 16, 2021. The principal activity of the Company is the manufacturing and sale of aluminium cans. The Company completed the installation, testing, and commissioning of its manufacturing facility at Faisalabad Special Economic Zone and commenced commercial operations in September 2017.

At the time of filing, the company’s scrip at the bourse was Rs. 63.61, down 5.
34 percent or Rs. 3.59 with a turnover of 366,169 shares on Wednesday.

Source: Pro Pakistani


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