Feb-11 - 17, 2002
Packages Limited was established in 1957 as a joint
venture between the Ali Group of Pakistan and Akerlund & Rausing
of Sweden, to convert paper and board into packaging for consumer
Over the years, the Company continued to enhance
its facilities to meet the growing demand of packaging products.
Additional capital was raised from sponsors, International Finance
Corporation and from the public in 1965.
Packages commissioned its own paper mill in 1968
having production capacity of 24,000 tonnes of paper & paper board
based on waste paper and agricultural by-products i.e. wheat straw and
river grass. With growing demand the capacity was increased
periodically and by 1996 it reached 65,000 tonnes per year.
Since 1982, Packages Limited has a joint venture
with Tetra Pak International in Tetra Pak Pakistan Limited to
manufacture paper for liquid food packaging and to market Tetra Pak
In 1993, a joint venture agreement was signed with
Mitsubishi Corporation of Japan for the manufacture of Polypropylene
films at the Industrial Estate in Hattar, NWFP. This project, Tri-Pack
Films Limited, commenced production in June, 1995 with equity
participation by Packages Limited, Mitsubishi Corporation, Altawfeek
Company for Investment Funds, Saudi Arabia, and General Public.
Packages Limited owns 33% of Tri-Pack Films Limited's equity.
In July, 1994, Coates Lorilleux Pakistan Limited,
in which Packages Limited has 55% ownership, commenced production and
sale of printing inks.
In 1996, a joint venture agreement was signed with
Printcare (Ceylon) Limited for the production of flexible packing
materials in Sri Lanka. This project Packages Lanka (Private) Limited
commenced production in 1998. Packages Limited owns 62% of this
In 1999-2000 Packages Limited has successfully
completed the expansion of the flexible packaging line by installation
of new rotogravure printing machine and the expansion of the carton
line by a new Lemanic rotogravure inline printing and cutting creasing
machine. The machines are in production since December, 1999.
The Company's invoiced sales increased to Rs. 2,728
million for the six months ended June 30, 2001 as compared to Rs.
2,275 million for the same period of 2000. The Company produced 33,405
tonnes of paper and board as compared to 31,625 tonnes and converted
32,044 tonnes as compared to 30,742 tonnes during the same period.
The Company earned a pre-tax profit of Rs. 318.95
million as against Rs. 331.11 million of 2000.
The current Balancing, Modernization, Replacement
and Expansion (BMR&E) programme is in progress. Shipment of paper
machine 5 and its related equipment has been largely completed and
civil works for the project is in progress and will be completed by
the middle of next year. Civil works for enhanced tissue production
have also commenced.
ISO 14000 Certification
Work for implementing the ISO 14000 (Environment
Management Standards) Certification of Paper and Board Mill is in
progress and Insha Allah, will be completed in the year 2002.
Board of Directors
Rafi Iqbal Ahmed
Syed Hyder Ali
Syed Wajid Ali
Chairman & Chief Executive