Textile firm Ghazi Fabrics International Limited (PSX: GFIL) has decided to limit its production activities for the time being.
In a notice to Pakistan Stock Exchange (PSX) on Tuesday, the company said the decision has been made due to the prevailing economic conditions in the country, increase in power cost and non-availability of quality cotton at affordable price.
“The company has decided to partially curtail production activities of its Weaving Unit till further notice,” it said. We will continue to monitor the situation for future course of action, the notice added.
Ghazi Fabrics main activities are textile manufacturing, production of cotton and P.C. yarn and grey cloth that are marketed both within and outside Pakistan.
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