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The Pakistan Credit Rating Agency Limited
Press Release

Date
14-Oct-24

Analyst
Usama Ali
usama.ali@pacra.com
+92-42-35869504
www.pacra.com

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This press release is being transmitted for the sole purpose of dissemination through print/electronic media. The press release may be used in full or in part without changing the meaning or context thereof with due credit to PACRA

PACRA Suspends the Entity Ratings of Jhulay Lal Parboiled Rice Mill

Rating Type Entity
Current
(14-Oct-24 )
Previous
(13-Oct-23 )
Action Suspended Maintain
Long Term - BBB
Short Term - A2
Outlook Stable
Rating Watch - -

The ratings of the Company have been suspended due to non availability of requisite information. The management has agreed to provide data. Once all information is available and PACRA fee is cleared, PACRA will update the ratings after following the due process.
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About the Entity
Jhulay Lal Parboiled Rice Mills is a partnership firm run by Mr. Gurmukh Das and Mr. Ramesh Kumar. The two partners share an equal stake in the company. Mr. Gurmukh Das, is an experienced entrepreneur. He is an MBA in Marketing from SZABIST University. Mr. Das was formerly working in Faysal Bank before being involved in the Rice Business and now is the main face of Jhulay Lal. Syed Hassan & Co. Chartered Accountants are the auditor for Jhulay Lal.

The primary function of PACRA is to evaluate the capacity and willingness of an entity to honor its obligations. Our ratings reflect an independent, professional and impartial assessment of the risks associated with a particular instrument or an entity. PACRA's comprehensive offerings include instrument and entity credit ratings, insurer financial strength ratings, fund ratings, asset manager ratings and real estate gradings. PACRA opinion is not a recommendation to purchase, sell or hold a security, in as much as it does not comment on the security's market price or suitability for a particular investor.