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Although there was concern, noted in an IMF report, that the WTO's Multi Fibre Arrangement, the Agreement on Textiles and Clothing (ATC), phase-out would shut down the textile and clothing (T&C) industry, [46] the Bangladesh textile sector actually grew tremendously after 2004 and reached an export turnover of US$10.7 billion in FY 2007 ...
Political instability in East Pakistan led the family to move to Karachi in 1970, where they acquired the Sapphire Textile Mill in Kotri, Sindh, in 1971, and later used it as the group identity. [4] In 2003, Sapphire made an equity investment of Rs300 million in the unlisted associated company, Sapphire Finishing Mills Limited. [5]
In 1970, Bibojee Group established Ghandhara Diesels Limited, focused on manufacturing and selling diesel engines under the Bedford brand for trucks and tractors. [4] The company was nationalized in 1972 and was later renamed as Bela Engineers Limited. [4] The following year, it was listed on the Karachi Stock Exchange. [4]
Burewala Textile Mills, acquired in 1957 from Pakistan Industrial Development Corporation and later merged into Dawood Lawrencepur Limited in 2004 [6] [7] Central Insurance Company, now known as Cyan Limited [8] [9] Dawood Mines, it was established with a paid-up capital of Rs. 0.5 million and was involved in coal mining [10] [11]
The Pakistan Textile City, situated in Karachi, Sindh, is an industrial zone dedicated to textile processing and related industries. Established in 2009, it spans 1,250 acres, [ 1 ] and is strategically located within the North Western Industrial Zone of Port Qasim , just 6 km from the N-5 National Highway .
In recent years, Pakistan has faced competition from regional players including Bangladesh, India and Vietnam. In the past decade, Pakistan's share in global textile market decreased to 1.7 percent from 2.2 percent, Bangladesh saw an increase from 1.9 to 3.3 percent and India from 3.4 to 4.7 percent. Barriers to growth include:
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In 1953, the group decided to enter the field of manufacturing under the name Gul Ahmed Textile Mills Limited, and was incorporated as a privately limited company. [1] In 1970, it was listed on the Karachi Stock Exchange, and was one of the leading composite textile houses in Pakistan. [5]