Jubilee Spinning no longer requires cotton supplies

By MG News | April 11, 2025 at 10:39 AM GMT+05:00

0:00

April 11, 2025 (MLN): Jubilee Spinning & Weaving Mills Limited (PSX: JUBS) recently clarified through electronic media that it does not require raw material in the form of cotton.

The company stated that its core operations have been halted since 2014 due to inconsistent raw material availability, a lack of working capital, and ongoing financial losses.

The company has since rented out its premises to earn rental income and service revenue from the use of power generation equipment, transmission lines, and solar power equipment by tenants, the notification issued to the local bourse.

JUBS was incorporated in Pakistan as a public limited company on 12 December 1973 under the Companies Act, 1913 (Now the Companies Act, 2017).

The principal objective of the company is to engage in the business of manufacturing and selling of yarn, buying, selling and otherwise dealing in yarn and raw cotton.

The company also operates electric power generation facilities which generate electricity for use within the production site.

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