Karachi, Mubarak Textile Mills Limited informed Pakistan Stock Exchange on account of depressed business situation in Pakistan, the company resorted to the business “renting out” it premises and earning income from property which is a recognized mode of income under the Income Tax Ordinance, 2001.

In the year ended June 30, 2021, the Company earned rental income, to the tune of Rs. 8,530,050/= which has duly been disclosed in its audited accounts and the same has been accordingly offered for taxation.

The company is a publicly quoted firm based in Pakistan that is active in the textile industry. Its core business is the design, manufacture and distribution of made-up textile articles. The company is primarily involved in the production of household textile products such as bedspreads, sheets, tablecloths, linen, towels, carpets, and shower curtains, from purchased materials. The firm principally conducts its business operations within the country.

The symbol “MUBT” is being used by the stock exchange for the Mubarak Textile Mills Limited.