BILAL FIBRES LIMITED
Climate Impact & Sustainability Data (2017)
Reporting Period: 2017
Environmental Metrics
ESG Focus Areas
- Employee Welfare
- Safety and Health
- Training
- Community Investment
Social Achievements
- Provided employees with medical insurance and group life insurance.
- Operated a 'No Profit' fair price shop at the mill offering subsidized necessities to workers.
- Provided training and internships to students.
Governance Achievements
- Established an audit committee and a human resource and remuneration committee.
Climate Goals & Targets
Medium-term Goals:
- Find Chinese or local investors for a joint venture to improve technology and competitiveness.
Short-term Goals:
- Negotiate with banking companies and settle borrowings.
Environmental Challenges
- Company suspended operations since June 16, 2016 due to high cost of doing business, government inaction, and uncompetitive industry.
- Accumulated losses of Rupees 350.202 million.
- Current liabilities exceeded current assets by Rupees 770.982 million.
- Litigation with banking companies.
- Inability to pay long-term financing liabilities.
Mitigation Strategies
- Leased out the factory to generate cash flow to meet day-to-day expenses.
- Settled majority of market creditors.
- Seeking local or Chinese investors for a joint venture.
- Negotiating with banking companies to settle borrowings.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: Code of Corporate Governance