Agha Steel Gears Up for Production Resumption in 10 Days

In a recent filing on Tuesday, Agha Steel Ind.Ltd (PSX: AGHA) announced its plans to restart operational production within an estimated ten working days. This decision follows a well-managed containment of an isolated incident that occurred at AGHA's plant site in the low-voltage electric control room (ECR). Fortunately, no major damages have been reported.

The incident also impacted two LT transformers. Tragically, during the event, two heroic team members, Abid Hussain Soomro and Jamil Shaheen, lost their lives while saving others.

Agha Steel expressed its unwavering commitment to supporting the families of the fallen heroes and taking responsibility for the well-being of their dependents. The company has decided to offer a job to Abid Hussain Soomro's son upon completion of his education, ensuring consistent emotional and financial support during this period. Similarly, for Jamil Shaheen, Agha Steel plans to provide employment for a nominated person or dependent from the family.

Importantly, Agha Steel emphasized that there was no safety lapse, underlining the familial approach in the workplace. At Agha Steel, the team is considered a family, and safety remains a top priority.

Currently, the scrip price of AGHA is trading at Rs15.25 per share, reflecting an increase of 10 paisa or 0.66% compared to yesterday’s closing.