June 27, 2003	Friday	Rabi-us-Sani 26,1424

KARACHI, June 26: Chief Executive of Corporate and Industrial Restructuring Corporation (CIRC), Javed Hameed has said that the CIRC has successfully disposed of 76 units in the last two years at a value of Rs46 billion.

The sale of these 76 non-performing units had resulted in generation of funds and employment, he said during a presentation to the FPCCI members on the operation of the CIRC on June 25.

According to FPCCI’s press release, Hameed informed the FPCCI members that out of 719 cases referred, 171 units were acquired by the CIRC for necessary action.

He said majority of cases disposed of by the corporation was related to the textile sector (56 per cent).

Vice president FPCCI, Arshad Alam hoped that the CIRC would continue to work for revival of the remaining sick and non- performing industrial units for industrial production, employment and revenue generation.