Lahore, July 20, 2018 (PPI-OT): Pakistan Industrial and Traders Associations Front (PIAF) chairman Irfan Iqbal Sheikh has demanded a high-level…

Karachi, July 20, 2018 (PPI-OT): The Karachi Cotton Association has expressed its deep concern over the decision of the Government…

Karachi, July 20, 2018 (PPI-OT): Mr. Azhar Ali Dahar, Director General (South), Trade Development Authority of Pakistan, Karachi chaired a…

Islamabad, July 20, 2018 (PPI-OT):A delegation of the Pakistan Business Council (PBC) led by Ehsan Malik and Bashir Ali Mohammad…

Karachi, Summit Bank Limitedinformed Pakistan Stock Exchange that a meeting of the Board of Directors of the Bank will be held on July 27, 2018 at Karachi to review the progress on the Merger of the Bank with and into Sindh Bank Limited. Summit Bank Limited was incorporated in Pakistan as a public company limited on December 09, 2005 under the Companies Ordinance, 1984. The ultimate holding company of the Group which comprises of Summit Bank Limited the holding company and Summit Capital Private Limited a wholly owned subsidiary is Suroor Investments Limited a company incorporated in Mauritius. The bank is principally engaged in the business of commercial banking through its 187 branches in Pakistan as defined in the Banking Ordinance, 1962. The stocks of the bank are quoted on the Karachi, Lahore and Islamabad Stock Exchanges of Pakistan. The registered office of the bank is situated at Islamabad. The bank commenced its operation in August, 2006 and commenced in all the segments of banking which include Corporate and Investment Banking, Trade Finance, Commercial Mid Market / SMEs, and Consumer Banking. The symbol “SMBL” is being used by the stock exchanges for the shares of Summit Bank Limited.

Karachi, Babri Cotton Mills Limitedinformed Pakistan Stock Exchange that meeting of the Board of Directors of the Company will be held on July 28, 2018 at Rawalpindi to approve the Annual Budget of the Company for the financial year 2018-19. Babri Cotton Mills Limited was incorporated on the 26th of October, 1970 as a Public Limited Company under the capable professional guidance of founder chairman (Late) Lt.General (R) M Habibullah Khan Khattak. It was established as a textile spinning unit at Kohat with a capacity of 25,056 spindles. The mill is located in Kohat at a distance of 55 km south of Peshawar. Its Commercial production started in 1973. The textile industry in Pakistan suffered a serious crisis from 1977 to 1985. Many mills were forced to close down their weaving and processing units especially in Khyber Pakhtunkhwa (Formerly N.W.F.P). However, from 1986 onwards the management of the company with untiring efforts converted this unit back to a profit earning unit. The Company from its own resources has added another 27984 spindles along with complete back process till 2010. The Company is engaged in production of super fine counts of 80s combed yarn from extra-long staple cotton of USA Pima and CIS origin. We also manufacture and sell 52/s combed yarn which is being sold at premium. The company has invested since 1995 a total sum of Rs. 399.767 million in plant and machinery under balancing modernization and replacement (BMR) scheme out of its own cash resources Rs. 178.767 million and 221.000 million loan obtained from National Bank of Pakistan. Presently the mill is equipped with 53,040 spindles (109 Ring Frames) with complete latest model back process and auto coners. All products pass through a stringent Quality Management System and are supervised by laboratory checks to ensure conformity to the highest standards. The total capacity of the mills is now 53,040 spindles & 400 rotors. The Mill employs around 1200 full time employees. The symbol “BCML” is being used by the stock exchange for Babri Cotton Mills Limited.

Karachi, BannuWoollen Mills Limitedinformed Pakistan Stock Exchange that the Meeting of the Board of Directors of the Company shall be held on July 28, 2018 at Rawalpindi to consider and approve the budget of the Company for the financial year 2018-2019 and to transact any other business with the permission of the Chair. BannuWoollen Mills Ltd was established by PIDC in 1953 and as such is the oldest woolen industry of Pakistan. On disinvestments by PIDC in 1964, it was purchased by Bibojee Group of Companies founded by a renowned industrialist of the country Late Lt.Gen.(R)M. Habibullah Khan Khattak. This group of companies is engaged in the manufacture of a vast range of products, providing jobs to thousands of hands directly and many more indirectly through down-stream industries and is making considerable contribution to the National exchequer and the GDP. The mills was made a public limited company in 1992 and is quoted at Karachi/Islamabad Stock Exchanges. The company’s quality management system has been certified and registered against ISO 9001-2000 standards by M/S Moody International Certification Ltd; with accreditation to M/S UKAS(U.K). The Mills manufactures a variety of woollen products which include tweed, blazer, velour, superior/donigal/honey shirting, byla&byma for light winter wear, blankets, shawls, services dress cloth, upholstery and curtain cloth etc. in attractive shades and designs. The symbol “BNWM” is being used by the stock exchange for BannuWoollen Mills Limited.