A fire broke out at one of Gul Ahmed Textile Mills Limited’s (GATM) warehouse facilities, affecting certain inventories and fixed assets. The listed company disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Monday.
GATM, one of the country’s largest textile mills, said it has initiated a detailed assessment to evaluate the extent of the damage and any resulting operational impact. “We confirm that the affected inventories were fully covered under comprehensive insurance policies,” read the notice.
The company added that it is working closely with insurance providers, safety authorities, and relevant stakeholders “to manage the situation efficiently and ensure business continuity”.
Further information will be shared once the assessment is completed, it said.
Earlier in September, GATM announced the discontinuation of its export apparel segment, citing persistent operational losses amid rising costs, policy changes, and regional competition.
The textile giant clarified that the decision relates solely to the export apparel segment and that it will continue its operations in other principal segments, including home textiles, spinning, and weaving.
The Gul Ahmed group has been operating as a textile trader since the 1900s. However, the group commenced its manufacturing operations as Gul Ahmed Textile Mills (GATM) in 1953. It turned into a public limited entity in 1955.
GATM is a composite textile mill engaged in the manufacturing and sale of textile products. Besides having a strong presence in the manufacturing sector, the company has a foothold in the retail business too.
The retail business started in Karachi and stretched to more than 40 stores across the country, offering products ranging from fashion and clothing to home accessories.
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