Bilal Fibres to Explore IT, Health Tech, and EV Sectors

Bilal Fibres Limited, a prominent textile manufacturer, announced on Friday that its Board of Directors has sanctioned a proposal to venture into IT/Health Tech/EV sectors as a potential supplementary business avenue.

The publicly listed entity communicated this development to the Pakistan Stock Exchange (PSX) earlier today.

“The company’s Board of Directors carefully considered the strategic diversification of its business activities, particularly in light of the current suspension of its textile operations,” the company stated.

The Board has reaffirmed that the textile business remains the company’s primary focus.

“The Board greenlit the proposal to establish an IT/Health Tech/EV Division to investigate opportunities within the technology domain. This includes the provision of B2B, B2C services, and other related activities, positioning it as a prospective secondary line of business. This decision aligns with Clause 3 (ii) of the Memorandum of Association and is contingent upon the fulfillment of necessary corporate protocols where applicable,” the notification to the PSX elaborated.

In a separate announcement, the company disclosed the resignation of Anwaar Abbas from his position as director, effective May 16th, 2025.

To fill the resultant vacancy on the Board, Muhammad Usman Saber, an IT specialist, has been appointed as a “director with immediate effect”.