Karachi: Fazal Cloth Mills Limited has announced the incorporation of a new subsidiary, Fazal Gas Distribution Company Limited, as disclosed in a report dated September 9, 2026. This strategic move by Fazal Cloth Mills Limited marks an expansion into the energy sector, specifically targeting petroleum and gas distribution.

Fazal Gas Distribution Company Limited, abbreviated as FGDCL, will engage in activities related to petroleum and petroleum products, oil, and gas, including import and export, alongside other related ventures. These operations will adhere strictly to applicable laws, rules, and regulatory approvals.

According to information available from the Pakistan Stock Exchange (PSX), FGDCL's initial subscribed shares total 10,000, with Fazal Cloth Mills Limited owning 9,997 shares. This establishes Fazal Cloth Mills Limited as the primary shareholder.

It is noteworthy that FGDCL has not yet initiated commercial operations. The commencement of these activities will be communicated to the Pakistan Stock Exchange as per the legal and regulatory framework when they commence. This development positions Fazal Cloth Mills Limited to potentially diversify and strengthen its market presence within the designated market category of energy distribution.