Pakistan News

2 Pakistani firms make it to Forbes’ coveted ‘under $1bn’ list

Two Pakistani companies have made it to Forbes ‘Asia’s Best Under A Billion 2020’ list.

The annual list recognises 200 top-performing small and mid-sized companies in the Asia-Pacific region with sales under $1 billion. Information technology company Systems Limited Pakistan (SLP) along with local textile giant Feroze1888 Mills Ltd have made it to this year's list.

Recognising the achievement, Commerce Adviser Abdul Razak Dawood congratulated the companies for making it to the coveted list.

He lauded the companies and reaffirmed his commitment and belief in “the entrepreneurship of our people". He also expressed the confidence that the achievement of these firms would “provide impetus to others to achieve similar laurels.”

Founded in 1977, Systems Limited Pakistan has the distinction of being the country's first software technology company, according to a statement on its website.

In a statement, CEO Asif Peer said the company's achievement was a "proud moment for the entire team".

“My passion is that we would like to be not ‘under a billion dollars’, but a billion-dollar company out of Pakistan very soon, and I trust my employees, management, and leadership that we will soon be celebrating our billion-dollar success as well,” he said.

Meanwhile, Feroze1888 Mills Ltd is a manufacturer and exporter of specialised yarn and terry products not only in Pakistan but across the globe. The company began operations in the 1970s.

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