Islamabad: Two Pakistani companies have made it to Forbes ‘Asia’s best under a billion 2020’ list. The Forbes list recognises 200 top-performing small and mid-sized companies in the Asia-Pacific region with annual revenue above $10 million and below $1 billion.
Appreciating the achievement, Pakistan’s Commerce Adviser Abdul Razak Dawood congratulated the two companies - Systems Limited Pakistan and Feroze1888 Mills Limited.
He reaffirmed government’s commitment and belief in “the entrepreneurship of our people” and hoped the achievement of these firms would “provide impetus to others to achieve similar laurels.”
Pakistan’s leading textile company
Textile giant Feroze1888 Mills recorded sales of $215 million with a net income of $44 million and market value of $189 million.
Feroze1888 Mills Ltd. is Pakistan’s leading manufacturer and exporter of yarn and textile terry products. It offers bath towels and bath robes, beach towels, flour sacks and other related products for home, hospitality and healthcare.
The company was founded in 1972 and is headquartered in Karachi.
Systems Ltd - brightest star of Pakistan’s IT industry
Information technology company Systems Limited Pakistan recorded sales worth $50 million with a net income of $11 million and market value of $139 million.
Founded in 1977, Systems Limited has the distinction of being Pakistan’s first software technology company and was recognized as the country’s biggest IT exporter for 2019. The firm offers software solutions, automated and unified workflows and business processes to the government and private institutions.
Systems Limited’s CEO Asif Peer said the company’s achievement was a “proud moment for the entire team” and projected it “as the brightest star of Pakistan’s IT industry.” He expressed confidence that the Pakistani company would soon become “a billion-dollar company soon”.
The company recently also won multiple honours at the Pakistan Software Export Board (PSEB) Awards as Top IT Exporter for 2019.
