Lahore: The industry has benefited a lot from the facilities provided by the government in the textile sector. In view of this, Koh-i-Noor Spinning and Yusuf Weaving companies have started their growth journey by eliminating their losses.
Reconstruction work is in full swing and in the last one and a half years, the companies have been moving towards improvement by adapting to the market mechanism by bringing a lot of innovation in the business.
According to the company officials, it has been decided to sell what was purchased earlier when it comes to the commercial and industrial area. This will raise billions of rupees, which will be spent on repaying bank loans and buying more modern machinery in companies, which will help it, they added.
Profits will increase further iduring the year. At present, companies are finding it difficult to meet orders and have to run plants at full capacity which were shut down some time ago.
This will help in increasing the turnover, the source said, adding that these two textile units will soon be among the textile units in the line of domestic and foreign companies which are profitable.
Ventures are also being considered which will include domestic and foreign investment. The sources further said that the policies of the government in the textile sector are beneficial and new plants are being set up which will provide employment to thousands of people increasing the exporting.
