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All praises go to Almighty Allah who grants us success in our endeavours. It gives us great pleasure to sign financing agreements with Banks and Financial Institutions for PVC project. I bend my head to Almighty ALLAH, who has graciously given us opportunity, guidance and wisdom for making efforts towards Riba Free Financing arrangements.
In last two years we have signed Islamic Financing agreements for BMR II of Caustic Soda Plant and Captive Power project. We have witnessed that Inspite of costlier Islamic Financing (as compared to conventional financing) for these projects, our profitability has been improved sharply. This is the true fruit of sharia'h compliant financing and blessing of Almighty Allah. Islamic financing has not only expanded in Islamic banks, but non-Islamic banks are also now issuing Sukuk nad mortgages.
Now almost all banks operating in Pakistan have opened their Islamic Financing Divisions and this is a very encouraging sign. Different products have been developed to cope with long term and short term needs for financing of businesses.
Now today's, with the Grace of Almighty Allah, we have proceeded to sign Rs 1500 Million SUKUK agreement for our PVC project with production capacity of 30,000 MT/Annum extendable to 60,000 MT/Annum. This project will not only generate profits for company but it will also create employments for people. We pray that May ALLAH guide us to progress further and fortify our belief that Islam always provides best solutions regarding all socio-economic activities.

Copyright Business Recorder, 2008

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