Standard Ceramics closes factory due to gas and power crisis
According to the Dhaka Stock Exchange (DSE) on Sunday, as of 11am, its share price fell by 1.26 percent to Tk125 each
Standard Ceramics Industries, a publicly traded tableware manufacturer, has disclosed that its factory has temporarily shut down from 26 January due to a shortage of raw materials and a lack of gas and electricity supply.
According to the Dhaka Stock Exchange (DSE) on Sunday, as of 11am, its share price fell by 1.26 percent to Tk125 each.
They disclosed on Sunday on the DSE Website that the factory will remain closed until normal gas and power supplies resume.
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The disclosure reads that the production in the factory is currently stopped due to the post-corona financial crisis, the current global negative situation, shortage of raw materials and closure of gas and electricity supply. Due to which the authority has decided to temporarily close the factory.
Last December against the backdrop of several challenges like the dollar crisis, high inflation and working capital shortage, the share price of Standard Ceramic Industries Ltd surged notably, despite suffering only losses in the last two fiscal years.
