CEO of Sitara Group Muhammad Adrees has dismissed ongoing rumours about the closure of Sitara Textile Mills in Faisalabad over economic difficulties.
In a recent statement, Adrees said that the mill is not closed and will not be closing but is undergoing a significant upgrade to modern machinery.
For several days, the CEO of Sitara Group has been active on social media, addressing allegations that the textile mill is being shut down because of the economic crisis. These claims, Adrees asserts, are unfounded and misleading.
“Sitara Textile Mills is not closed, nor will it be closed,” Adrees said. “We are in the process of upgrading our machinery to enhance efficiency and production capabilities. The ongoing transformation is a strategic move to stay competitive in a challenging market.”
Earlier, there were reports on social media that Sitara mill among 100 shut down in Faisalabad due to escalating production costs driven by rising energy tariffs and increased markup rates.
