AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, Chenab Limited, once a leading exporter of home textile products in Pakistan, has begun its ascent from a period of industrial turmoil experienced between 2008-2010. With the aid of Habib Bank Limited (HBL) and other lenders, a comprehensive rehabilitation plan has been set in motion, aligning with the State Bank of Pakistan’s initiative to rejuvenate dormant industrial units for economic contribution.
According to Habib Bank Limited, the event “Chenab Rising” was organized by Chenab Limited to display its comeback. The Deputy Governor of the State Bank of Pakistan, Mr. Saleem Ullah, and representatives from over twenty banks were present at the occasion. The gathering recognized the regulatory body’s strategic vision and HBL’s pivotal role in manifesting this recovery. This turnaround has led Chenab Limited to generate Rs 2.5 billion in revenue over 18 months and provide employment to 3,000 individuals, signifying a significant potential for further advancement.
Mian Muhammad Latif, the Chairman of Chenab Limited, remarked on the company’s resurgence, citing a relentless spirit and the critical support of banking partners, notably HBL. He emphasized the importance of perseverance for entrepreneurs during challenging times.
Muhammad Aurangzeb, President & CEO of HBL, commented on this achievement, linking the revival to the bank’s commitment to Pakistan’s economic growth and sustainable banking practices, aspiring to transcend its traditional role in the banking sector.
The post Chenab Limited Embarks on Resurgence with HBL’s Assistance appeared first on Pakistan Business News.