Rs900m NBP facility for textile unit

KARACHI, Aug 11: National Bank of Pakistan has provided trade and funded financing facility of Rs900 million to Chenab Ltd. which has one of the largest textile facility in the country, says a press release.

President NBP Syed Ali Raza and chairman of Chenab Ltd. Mian Muhammad Latif signed the financing agreement here on Monday on behalf of their organizations. Chenab is an entirely export-oriented company exporting high quality products to the US, middle East and other European countries. The company has added sophisticated machinery in weaving, processing and stitching during the last few years at a cost of Rs1 billion to compete in the international market in post quota regime.

NBP has structured and financed various local and off-shore financing and has also entered into a number of syndicates and consortium for the establishment and restructuring of various public and private sector projects.

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