Gul Ahmad Project

Topics: Financial ratios, Financial ratio, Balance sheet Pages: 20 (3538 words) Published: August 28, 2013
extile Industry
When we think manufacturing industry, Pakistan, it is the textile industry that immediately come to the mind that is playing an important role in term of the employment generation and value added special with strong base of raw material has started its journey from non existence in 1947 with 3000 looms that is too in the unorganized sector, with only one textile unit. It could supply only 8% of the domestic demand derived from its population 76 million people.

The industry has gone through a long way and now possesses 443 units, 8.4 million spindles and 166,000 rotors. 20,000 shuttle less looms, 200,000 power looms, 8,000 terry towel looms, 7620 canvas looms, 157,000 woolen / worsted installed spindles, 15,000 woolen looms, 12,000 knitting machines, over 600 processing units and over 2500 garments units. The textile industry at present is a passing through a transition phase. It is sailing smoothly under the protected cover of the quota system; however it has to face the rough waters of the open sea when globalization of trade is implemented under WTO agreement in 2004. three years have already gone unnoticed the fast approaching deadline sounding a note of warning for restructuring of all the segments of the cotton and textile industries on war footings to enable it to face the future challenges of fierce competitio0n amongst the low cost Asians manufacturers to capture share of their higher cost European counter –parts when the gates of the global economies are open.

Textile industry economic contribution
Description | Contribution |
Exports | 64% of total exports (US$ 4.9 billion) |
Manufacturing | 46% of total manufacturing |
Employment | 38% total employment |
Investment | 31% of total investment |
Market capitalization | 7% of total market capitalization | Interest | Rs. 4 billion per annum |
Salaries and wages | Rs. 40 billion per annum |
Contribution to research and development | Rs. 116 million per annum | Gross domestic product (GDP)| 8.5% of Total GDP|

This sounds a triumph like situation at a glance. There is however much more than it meets the eyes when you go into details, which carry some failures also to weep on. This industry has not performed as well as it should have. It is struggling for its survival for the past 7years.

Growth of textile sector in Pakistan.
Year| No of mills| Spindles (000)| Looms (000)|
Installed| Working| % growth| Installed| Working| % growth| 1948| -| 78| 78| -| 3| 3| -|
1959-59| 70| 1581| 1488| 76| 26| 24| -|
1964-65| 83| 1967| 1852| 2.82| 31| 28| 333|
1974-75| 144| 3366| 2823| .60| 29| 25| -3.33|
1984-85| 219| 4445| 2872| 4.05| 23| 10| -4.17|
1994-95| 494| 8610| 6262| 2.27| 14| 5| -6.67|
1998-99| 442| 8358| 6631| -.12| 10| 5| -23.08|

Contribution in employment
Textile unit constitute 38% of employment generated by the manufacturing sector while textile being largest industry has got other forward and back ward relation where it must had played its role in generating employment in related industries for example shipping industry will definitely by mainly depended upon textile industry.

COMPANY PROFILE

Company Information

BOARD OF DIRECTORS

BASHIR H. ALIMOHAMMED - Chairman & Chief Executive
A.RAZAK HAJI SATTAR
YASIN HAJI KASSAM
YOUNUS HAJI LATIF
ZAIN BASHIR
ZIAD BASHIR
ABDUL AZIZ YOUSUF

COMPANY SECRETARY
MOHAMMED SALIM GHAFFAR

AUDIT COMMITTEE
A. RAZAK HAJI SATTAR - Chairman
YOUNUS HAJI LATIF - Member
ZAIN BASHIR - Member

BANKERS
ABN AMRO BANK NV
BANK AL HABIB LIMITED
CITIBANK, N.A.
DEUTSCHE BANK AG
HABIB BANK AG ZURICH
HABIB BANK LIMITED
MEEZAN BANK LIMITED
NATIONAL BANK OF PAKISTAN
NDLC-IFIC BANK LIMITED
STANDARD CHARTERED BANK
THE HONGKONG AND SHANGHAI BANKING
CORPORATION LIMITED
UNION BANK LIMITED
UNITED BANK LIMITED

AUDITORS
GARDEZI & CO.
Chartered Accountants...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • project Essay
  • Project Finance Essay
  • Project Essay
  • Essay about Project
  • Project Essay
  • projects Essay
  • project Essay
  • Formal Report on Gul Ahmad Textile Essay

Become a StudyMode Member

Sign Up - It's Free