Bilal Fibres Limited, a listed textile manufacturer in Pakistan, has announced a major step toward diversification by launching a new division focused on IT, Health Tech, and Electric Vehicles (EVs). This decision follows the ongoing suspension of its core textile operations, though the company affirms that textiles will remain its primary business.
In a notice sent to the Pakistan Stock Exchange (PSX) on Friday, the company stated that its Board of Directors has approved the strategic expansion. The new IT/Health Tech/EV division will serve as a secondary business line and will explore opportunities in B2B and B2C technology services.
Despite branching out into technology, Bilal Fibres emphasized that textiles will continue to be its principal focus. The diversification is part of a broader plan to remain financially viable while navigating the current operational challenges in the textile sector.
The notice also included key leadership changes. Anwaar Abbas has resigned from his role as director, effective May 16, 2025. In his place, the Board has appointed Muhammad Usman Saber, an IT professional, to fill the vacancy immediately.
The move signals a growing trend among traditional manufacturers in Pakistan to pivot towards future-facing industries like tech and clean energy, especially during periods of industrial disruption.