2 Pakistani companies make it to Forbes' Asia's 200 Best Under A Billion list

Two Pakistani companies - an information technology and a textile firm - made it to Forbes "Asia's Best Under A Billion 2020" list. 

The annual list spotlights 200 publicly listed small and medium scale companies in the Asia-Pacific region with sales under $1 billion. 

"These companies have track records of exceptional corporate performance, with one Covid-19 caveat: the list is based on full-year data as of July 7 and does not fully reflect the impact from the pandemic-led downturn," reads the a statement by Forbes. 

Pakistani companies

System Limited Pakistan (SLP), Information technology company, recorded sales worth $50 million with a net income of $11 million and market value of $139 million. 

Textile giant Feroze1888 Mill Limited recorded sales of $215 million with a net income of $44 million and market value of $189 million. 

"Great believer in entrepreneurship"

Advisor to PM on Commerce and Investment Abdul Razzak Dawood congratulated the two firms, stressing that he was a "great believer in entrepreneurship of our people".

Dawood said SLP was the only IT company from Pakistan to make it to the Forbes list. 

"I have always been a great believer in the entrepreneurship of our people. I am sure these three companies will provide impetus to others to achieve similar laurels," he added.