December 14, 2012
February 8, 2016
Dear Mr.Iqrar Husain,
Programme SARE AAM,
Congratulation to you for conducting this show and appreciate your courage in this regard.
I request for your attention for fallowing sinking sick industry which still have potential for 2500 workers.
Mohammad Farooq Textile Mills Limited which is located in Korangi Industrial area Karachi near by Murtaza Chorangi.
This mills founded in 1967 and giving direct employment for more than 2,500 peoples since 40 years in addition of many local taxes + Foreign exchange ( monthly exports was 12-15 coror per month ) due to this performance and expertise in 2005 this mills decided to go in expansion with most modern machines from Germany which worth is approximate 50 coror.
And new machines installed and start production in 2006.
In 2010 Farooq Textile management decide to shut down this unit only due to their family affairs ( Pl note this is a public limited Co) and now mills management want to sale this unit with the help of their fallowing Banks .Bank want to recover their loans which is more then 100 Corores.
• NATIONAL BANK
• HABIB BANK
• MUSLIM COMMERCIAL BANK
This above mentioned bank have no interest to run this industry they are only concern with their money what ever they get and now above mentioned all banks going to wave off major part of loans just to get some part of their money, please note that banks are not authorized to wave any loan This in clear violation of State Bank of Pakistan laws.
Now above mentioned all related Banks decided to sale this unit machinery to one scrap dealer (KABARI) in only 35 lakh rupees and with understanding of Bank this KABARI paid around 7 coror ( under table ) to mills MD.Mr.Farooq Somar to sign this deal ( Pl note that only 4 machines value which import in 2005 is more the 45 Corores.
At the other end workers dues which is more the 5 coror pending since 2010 ,But no one is concern about this liability and they are making a deal with MILLS WORKERS UNION and WORKERS FEDRATION after paying some peanuts’ to few union official’s.
For our country what is going on is a usual practice .I only request you to please you and your SARE AAM become the voice of poor labor and make sure mills management should pay the legal dues to mill workers.
Best solution is to Banks and State Bank act fast in this regards and restore this unit with any other management to save labor un employment and continue exports to increases our exports which is like Oxygen for Pakistan economy.
For any help and information please free to contact.
Thanking you and regards,
SALAM IQRAR BHAI MAI APKO MALIR KI AK INFORMATION DYNA CHATA HU JAHA GALAT KAM HUTY HY PLZ 14 FEB SY PEHLY MUJH SY CONTECT KRE MY NUM IS 0346-2691980
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