28th Annual General Meeting, Interloop Limited

The 28th Annual General Meeting of Interloop Limited was held on Thursday, Oct 15, 2020 at Interloop Industrial Park, Faisalabad. Musadaq Zulqarnain, Chairman Board of Directors; Navid Fazil, CEO; Muhammad Maqsood, Executive Director & Group CFO; Jahan Zeb Khan Banth, Non-executive Director and Tariq Iqbal Khan & Saeed Ahmad Jabal, Independent Directors, were present at the meeting. Eight resolutions were unanimously passed by the shareholders.

The Chairman stated that the last financial year had been a very challenging one for the entire global economy due to COVID-19 pandemic and Pakistan was no different. Like all other enterprises, Interloop also experienced unprecedented circumstances due to local & global lockdowns. He appreciated Management’s response for transforming the business practices and taking adequate measures to combat Covid-19, safeguarding the interest & wellbeing of its 21,000+ employees. To protect their livelihoods, the company did not retrench any employee despite the fact that the business had come to a standstill. The Chairman extended his profound gratitude to the shareholders for their confidence in the company and to all
stakeholders for their encouragement and support. He also appreciated the Management and People working at Interloop for their commitment, hard work and dedication, especially during testing times due to the pandemic, and pledged that the company would continue to work diligently, with ethics & integrity, and assured that it was better equipped to face any upcoming challenges because of the expected 2nd wave of Covid-19.

Navid Fazil, CEO Interloop Limited updated the shareholders about the progress of the Denim & Seamless Apparel plants. He admired the hard work put in by the people at Interloop and looked forward to the shareholders for their prayers for the company.