Two Pakistani companies – an information technology and a textile firm – made it to Forbes “Asia’s Best Under A Billion 2020” list.
The annual list spotlights 200 publicly listed small and medium scale companies in the Asia-Pacific region with sales under $1 billion.
“These companies have track records of exceptional corporate performance, with one Covid-19 caveat: the list is based on full-year data as of July 7 and does not fully reflect the impact from the pandemic-led downturn,” reads the a statement by Forbes.
System Limited Pakistan (SLP), Information technology company, recorded sales worth $50 million with a net income of $11 million and market value of $139 million.
Textile giant Feroze1888 Mill Limited recorded sales of $215 million with a net income of $44 million and market value of $189 million.
“Great believer in entrepreneurship”
Advisor to PM on Commerce and Investment Abdul Razzak Dawood congratulated the two firms, stressing that he was a “great believer in entrepreneurship of our people”.
Dawood said SLP was the only IT company from Pakistan to make it to the Forbes list.