LAHORE, March 20: The Revival Committee for Sick Units on Wednesday decided to revive a spinning mill — Golden Textiles — at a meeting held here.

The committee met here at the regional headquarters of National Bank of Pakistan with its chairman Tariq Hamid in the chair.

With the revival of textile unit the number of total sick units whose loans have been restructured by the banks on the recommendation of the committee rose to 125. The committee says the revival of these units has saved over 38,000 jobs.

The committee has so far considered the revival pleas of some 273 units since its inception about two years ago.

Out of revival pleas of six units taken up at the meeting, the cases of another three have been referred to a sub-committee for further deliberation and consideration. Sources were hopeful that these units would also be revived through restructuring of their loans.

The cases of the rest of two units were deferred by the committee for its next meeting to be held in Karachi in the first week of April.

Their cases, according to sources, have been deferred because their owners did not promise to pay “sufficient amount as down payment” before restructuring of their defaulted loans.