LANDMARK SPINNING
INDUSTRIES LIMITED.
DIRECTORS’ REPORT
The Directors of your company have the pleasure in
submitting their Half Yearly accounts for the period ended
The company could not carry on production during the period under review on account of unfavorable conditions.
Winder Industrial Area,District Lasbella in Baluchistan is still lacking infrastructural facilities despite of assurances and commitments of the LIEDA and Government of Baluchistan in supplying uninterrupted electricity as the load shedding is still going on in the area which would ultimately cause damage to electronic machinery of our spinning unit and would cause financial losses in case commercial operations are started on Diesel Generators being unworkable.
The company along with other stakeholder in Winder through Lasbella Chamber of Commerce & Industry have succeeded in obtaining sanction of gas supply. SSGC has been working on Gas line and we anticipate that upon supply of Gas connection by Government, we would re-start and re-activate the Spinning Unit by installing Gas generators.
The management is keen to re-start the Unit as soon as the infrastructural facilities made available including Gas connection.
The management is also please to inform you that entire liability towards Habib Bank Limited against Long Term Loan is fully paid / adjusted and as of today there is no Bank Loan outstanding against your company.
Loss after Taxation for the six months period under review was Rs.14.87 million which was mainly due to amortization of Pre-production expenses of Rs14.64 million.
The directors appreciate the services rendered by the employees of the Company.
Dated:
Akber Ali Hashwani
Chief Executive