Islamabad, 12 May, 2025: Ghazi Fabrics Board has authorised the sale of a significant portion of company-owned land, marking a strategic move aimed at realigning its asset base for greater efficiency.
During a formally held board meeting on 12 May 2025, the Directors of Ghazi Fabrics International Limited (PSX: GFIL) gave their consent to sell around 175 Kanal and 10 Marla of property situated in Mohal Chak No. 66 (Dina Nath), Tehsil Pattoki, District Kasur.
According to the official statement submitted to the Pakistan Stock Exchange, this decision aligns with the company’s long-term objective of optimising underutilised assets while maximising returns for shareholders.
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The Ghazi Fabrics Board confirmed that the proposed divestment is contingent upon receiving the green light from shareholders, as mandated under Section 183(3)(a) of the Companies Act, 2017.
While the announcement outlines the board’s resolution, specific details including the identity of the buyer, transaction value, and payment arrangements are expected to be made public once the deal reaches its final stages.
These disclosures will be shared in accordance with applicable corporate governance standards and legal requirements.
To obtain shareholder consent, the company has arranged an Extraordinary General Meeting (EOGM) to be held on 4 June 2025 at 10:00 AM, at its registered premises located at 8-C, E-III, Gulberg-III, Lahore.
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The official invitation for this meeting will be circulated shortly, ensuring compliance with procedural norms.
This decision by the Ghazi Fabrics Board signals a focused approach to resource management as the firm looks to strengthen its financial structure and unlock new value streams.
Industry observers suggest the move reflects a broader trend among textile companies repositioning themselves in a competitive economic climate.
