In response to the ongoing economic challenges and escalating operational costs, Ghazi Fabrics International Limited (GFIL) has taken the decision to temporarily shut down its spinning units.
The decision was communicated through a notice to the PSX on Tuesday, highlighting the company’s proactive stance in addressing the current market conditions.
GFIL cited the challenging economic landscape within the country, characterized by increased power costs that have significantly impacted production expenses. Additionally, the non-availability of quality cotton at affordable prices has further compounded the operational challenges faced by the company.
Despite the temporary closure of spinning units, GFIL emphasized its commitment to maintaining operational continuity in other areas. The weaving unit will remain operational, ensuring ongoing business activities and preserving a segment of its production capabilities.
Ghazi Fabrics International Limited is primarily engaged in textile manufacturing, specializing in the production of cotton and P.C. yarn, as well as grey cloth. Its products are marketed both domestically and internationally, contributing significantly to Pakistan’s textile industry.
