KARACHI – A massive fire broke out at Gul Ahmed Textile Mills Limited’s warehouse facilities, sending shockwaves across textile industry. The company confirmed incident in an official filing with the Pakistan Stock Exchange (PSX) on Monday.
According to statement, the blaze damaged certain inventories and fixed assets stored in the affected warehouse. The company’s finance division, based in Landhi, Karachi, disclosed that while the fire caused notable material loss, all impacted inventories are fully insured under comprehensive coverage, a crucial safeguard against any potential financial setback.
Gul Ahmed assured that it is working round clock with insurance providers, safety authorities, and other relevant stakeholders to control the situation, assess the extent of damage, and ensure that operations continue smoothly.
In its communication, the textile giant emphasized its commitment to transparency and regulatory compliance, promising to share updates once the damage assessment is complete or if any major development emerges that could affect its business performance or future outlook.
The fire incident raised concerns within the business community, though Gul Ahmed’s proactive response and complete insurance coverage have helped calm investor nerves.
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