MULTAN, Feb 10: The Silver Land Textile Mills owned by former PML MNA Haji Boota and partners was at last sold out in an open auction for Rs10.6 million here on Sunday.

The auction was held on court orders after the Pakistan Industrial Credit and Investment Corporation (PICIC) and Investment Corporation of Pakistan (ICP) filed suits for the recovery of Rs80 million default amount.

It may be mentioned that auction was held 10 times in the past, but remained unsuccessful for various reasons.

The eleventh attempt however proved successful when Mian Fayyaz Ahmed of Shah Rukne Aalam Colony turned out to be the highest bidder among five contestants.—APP