Karachi: In this connection, we invite your kind attention to our letter dated: 26-10-2010 wherein, the reason for not declaring the dividend were explained and the immense pressure for the spinning industry, high cotton prices, low production due to increase load-shedding and increase in cost of production having resulted in loss for the spinning industry.
We may respectfully submit that frantic efforts are being made to make the project viable and we are confident that taking in view the prevailing market rates of cotton and yarn reasonable profit is expected during the next year.
In view of the facts enumerated above, it is respectfully prayed that extension may kindly be granted upto June 30, 2012.
For more information, contact:
Haji Tariq Samad
Khalid Siraj Textile Mills Limited
467-M Block Model Town Extension,
Lahore – Pakistan.
Tel: +9242 35201981-86
Fax: +9242 35201500