KARACHI: Bilal Fibres Limited, a listed textile company, announced on Friday that its Board of Directors has approved the formation of a new IT/Health Tech/Electric Vehicle (EV) Division as a potential secondary line of business, amid the ongoing suspension of its core textile operations.
In a stock filing to the Pakistan Stock Exchange (PSX), the company stated that the move marks a strategic diversification in response to current market conditions affecting its primary textile business. However, the board reaffirmed that textiles would remain its principal line of business.
“The Board approved the proposal to establish IT/Health Tech/EV Division to explore opportunities in the technology sector, including the provision of B2B, B2C services etc., as a potential secondary line of business of the company,” the statement read. The initiative remains subject to fulfilling corporate formalities in accordance with Clause 3 (ii) of the Memorandum of Association.
This step signals a broader trend among industrial firms seeking stability and growth by diversifying into emerging sectors, especially amid economic uncertainty and sector-specific challenges.
Additionally, the company announced a key leadership change, with Director Anwaar Abbas resigning from the board, effective May 16, 2025. To fill the resulting casual vacancy, the board has appointed Muhammad Usman Saber, an IT professional, as director with immediate effect.
Incorporated in Pakistan in 1987, Bilal Fibres Limited has traditionally engaged in the manufacturing and sale of polyester and blended yarns. The company owns and operates a textile spinning mill located in Sheikhupura. Over the years, it has catered to both domestic and export markets, but like many players in Pakistan’s textile sector, it has faced mounting operational pressures due to energy shortages, rising costs, and global demand fluctuations. The company has also made strategic shifts in the last few years, none as discernible as its pivot towards content creation in 2024. The shift towards tech and EVs represents yet another bold pivot as the company looks to leverage emerging opportunities in Pakistan’s evolving digital and industrial landscape.
