With HBL's support, Chenab Limited reclaims its former glory
Chenab Limited, under the leadership of Mian Muhammad Latif,
Chairman, is now on a path to regain its past eminence. Chenab Limited, once
Pakistan's leading exporter of home textile products, suffered a severe setback
during the industrial crises of 2008-10 due to factors beyond its control.
The company's lenders, spearheaded by HBL, have actively
facilitated the execution of an extensive rehabilitation plan, aligning with the
vision of the State Bank of Pakistan (SBP) to resuscitate ailing industrial
enterprises and contribute to the national economy.
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To mark its resurgence, Chenab Limited organized an event
themed "Chenab Rising," attended by Mr. Saleem Ullah, Deputy Governor
of the State Bank of Pakistan, alongside representatives from more than 20
banks. The event attendees lauded the regulator's commitment to reviving
distressed or closed industrial units and commended HBL for turning this vision
into reality. Thanks to these combined efforts, Chenab Limited has successfully
generated Rs 2.5 billion in revenue within the first 18 months of its renewed
operations, employing 3,000 individuals and demonstrating substantial growth
potential.
Mian Muhammad Latif, Chairman of Chenab Limited, shared his
thoughts on the company's revival, stating, "There were moments when I
felt the pressure to give up, but there was always a steadfast belief that we
could restore Chenab to its former glory. This endeavor required sacrifices
that we were all willing to make for the greater cause of revival. Chenab's
resurgence serves as a testament to the power of persistence and determination.
It is a reminder that even in the darkest of times, there is always hope. I
encourage all entrepreneurs never to abandon their dreams, no matter how
challenging the circumstances may seem. I am deeply grateful to our banking
partners, especially HBL, for believing in our aspirations and aiding us in
getting back on our feet."
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Muhammad Aurangzeb, President & CEO of HBL, emphasized
the significance of Chenab's success story, stating, "The revival of
Chenab is a result of the bank's 'Growing Pakistan's Economy' strategy, with
corporate restructuring as a fundamental pillar. Through these capacity-building
initiatives, the bank continues to uphold sustainable banking practices, moving
toward its vision of being 'More Than Just a Bank'."
Source: Hamari Web