Premium Textile Mills approves Rs20m investment in recover Pakistan JV

Premium Textile Mills (PSX: PRET) has greenlit an equity stake of as much as Rs20 million in Recover Pakistan (Private) Limited, according to a notice the company filed with the Exchange. The Board of Directors cleared the proposal, which is a planned joint venture with Recover HoldCo, Inc., through a resolution circulated on September 10, 2026. Mettis Global carried the notification in its report published on September 11, 2026.

The investment is earmarked for buying, selling and trading recycled cotton fibre along with related textile goods in domestic and foreign markets. The company anticipates the venture will open doors to fresh markets and deals, contribute to profitability and strengthen shareholder value. The arrangement remains conditional on endorsement by members at the next annual meeting.