GFIL slashes weaving output amid economic strain

MG News | October 29, 2024 at 03:02 PM GMT+05:00

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October 29, 2024 (MLN): Ghazi Fabrics International Limited (PSX: GFIL) has decided to partially curtail production activities at its Weaving Unit.

In a notice issued to the PSX today, the company highlighted the prevailing economic conditions as the reason for this decision.

GFIL stated that the increase in power costs and the non-availability of quality cotton at affordable prices are limiting production activities for the time being; therefore, it has decided to partially halt production.

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