Wednesday, July 17, 2024
HomeBusinessChenab Limited's Remarkable Comeback Supported by HBL

Chenab Limited’s Remarkable Comeback Supported by HBL

Chenab Limited, once Pakistan’s leading exporter of home textile products, is experiencing a renaissance after a tumultuous period. Despite facing significant challenges during the industrial crises of 2008-10, the company is now on its way to reclaiming its former glory.

The concerted efforts of the company’s lenders, led by HBL, have paved the way for the implementation of a comprehensive rehabilitation plan, aligning with the State Bank of Pakistan’s (SBP) vision to revive struggling industrial units and bolster the nation’s economy.

To showcase its remarkable turnaround, Chenab Limited recently organized the “Chenab Rising” event, which garnered significant attention from industry leaders, including Mr. Saleem Ullah, Deputy Governor of the State Bank of Pakistan, and representatives from more than 20 banks. The attendees lauded the regulator’s foresight in revitalizing stressed businesses and acknowledged HBL’s instrumental role in translating this vision into reality.

Chenab Limited has made substantial progress, registering Rs 2.5 billion in revenue within the first 18 months of operation and providing employment to over 3,000 individuals. The company is poised for further growth, signifying a promising trajectory for its future endeavors.

Mian Muhammad Latif, Chairman of Chenab Limited, expressed his unwavering determination and belief in the company’s potential for revival, emphasizing the importance of resilience and perseverance in the face of adversity. He commended the unwavering support of the company’s banking partners, particularly HBL, for their unwavering trust and assistance in the company’s resurgence.

Muhammad Aurangzeb, President & CEO of HBL, underscored the pivotal role played by the bank in facilitating corporate restructuring and contributing to Pakistan’s economic growth. He emphasized HBL’s commitment to sustainable banking practices, demonstrating the bank’s dedication to being more than just a financial institution.



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