Pakistan International Bulk Terminal Limited (the “PIBT”) experienced a fire accident at the terminal last month. In a notification to PSX, it said that by the requirements of the Rule Book of Pakistan Stock Exchange Limited and applicable provisions of the Securities Act, 2015, Pakistan International Bulk Terminal Limited (the “PIBT”) now conveys the following information:

“On 19 November 2024, a fire incident occurred at PIBT Terminal while a cargo of Coal was being discharged, which caused considerable damage to the portion of the terminal infrastructure. The cause of the fire has been beyond the reasonable control of PIBT. It has materially and adversely affected a part of the terminal and partially impacted PIBT’s performance of its obligations.

Meanwhile, the terminal’s operations have continued unabated as we have made alternate arrangements to discharge cargo at the terminal. However, PIBT’s ability to discharge cargo at the terminal on behalf of its customers has been temporarily affected and may, unfortunately, cause a delay in discharging the cargo.

PIBT is endeavouring its best to manage the smooth discharge of the cargo and is hopeful that the operations of PIBT’s Terminal will return to its customary form and speed within December 2024.”