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'We foresee improvement in our operations' – CEO, Ali Asghar Mills
04
Mar '09
The Tsunami like financial crisis which has engulfed economies of all the countries, without sparing none in its wake has created an impact, unimaginable, even just a few months ago. The whole world was riding on the back of a boom wave in which even the smaller economies were uplifted in the bargain.

In our continuing series on giving to our valued readers, the impact of the financial turmoil on the textile and garment industry in different countries, fibre2fashion spoke to Mr Nadeem Ellahi Shaikh, Chief Executive of the Pakistan based, Ali Asghar Textile Mills Limited, with its registered office in Karachi.

Ali Asghar Textile Mills Limited is a spinning mill, set up in 1967 and having a installed capacity of 31,000 spindles and is in to the manufacture of cotton yarn of different varieties like carded and combed in all counts.

We started off by asking him his views on overall global textile market and its impact, to which he replied by saying, “It is not good for anybody and the effect on exports from the textile industry in Pakistan is very obvious to everybody, with the same expected to worsen in the next few months of 2009 and possibly even into 2010”.

To another question on competitor countries and how he foresees the future of his company, he replied by saying, “Our competitors are mainly China and Bangladesh and we are trying to diversify our export base in order to reduce the impact and we also foresee improvement in our overall operations in the near future”.

Fibre2fashion News Desk - India

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