Pakistan’s IT & Textile Firms Made It To Forbes

Amna QuddusiWeb Editor

04th Dec, 2020. 03:27 pm
Asia's Best Under A Billion 2020

Two Pakistani companies – an IT and a textile company – have made it to the Forbes “Asia’s Best Under A Billion 2020” ranking.

The annual list highlights 200 small and medium-scale publicly traded companies with revenue of less than $1 billion in the Asia-Pacific region.

The statement in Forbes reads, “These companies have track records of exceptional corporate performance, with one Covid-19 caveat: the list is based on full-year data as of July 7 and does not fully reflect the impact from the pandemic-led downturn.”

The Pakistani Corporations

With a net income of $11 million and an enterprise value of $139 million, System Limited Pakistan (SLP), an information technology firm, reported revenue of $50 million.

With a net income of $44 million and a current value of $189 million, textile giant Feroze1888 Mill Limited registered revenue of $215 million.

Abdul Razzak Dawood Congratulated The Hardwork

Abdul Razzak Dawood Commerce and Investment Advisor to PM praised the two businesses, emphasizing that he had been a “great believer in entrepreneurship of our people”

SLP was the only IT company from Pakistan to make it to the Forbes list, Dawood stated.

He further added, “I have always been a great believer in the entrepreneurship of our people. I am sure these three companies will provide impetus to others to achieve similar laurels.”

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