UAE firm invests $6 million in Pakistani home care product manufacturer ZIL

A Dubai-based multinational company has acquired a major stake in Pakistani home and personal care product manufacturer, Zulfiqar Industries Limited (ZIL), by investing around $6 million in foreign direct investment (FDI) in Pakistan.

New Future Consumer International General Trading (NFCIGT), an emerging global player in the consumer and fast-moving consumer goods (FMCG) industry, has acquired 84.84% or 5.19 million shares of ZIL Limited, according to a stock filing.

ZIL Ltd posted a net profit of PKR 67.6 million in January-March versus a net loss of PKR 37.6 million a year ago.

Investment to create jobs, boost economy

Dr. Cobus Van Rooijen, the founder and managing director of the NFCIGT, said he believed in the long-term growth potential of Pakistan despite current challenges. 

“Despite the challenging times, we firmly believe in the long-term growth potential of the country,” Rooijen said in a statement. The firm looks forward to leveraging its global experience and resources to drive innovation, create job opportunities, and contribute to Pakistan’s economic growth.

The NFCIGT chief said his company had prioritized Pakistan as part of its global business development strategy in the FMCG category. “ZIL Limited has Capri as a fantastic heritage brand, which provides opportunities to expand into other personal care premium categories,” Rooijen said.

“We have identified Pakistan as a major investment opportunity based on demographics and anticipated consumption per capita growth in key consumer categories.”

Story of ZIL

ZIL Limited was founded in 1954, in the city of Hyderabad, by the great visionary Syed Maratib Ali, who invested a fortune earned in real estate and agribusiness, to bring quality consumer goods to the people of Pakistan. Later, Syed Wajid Ali and Syed Asad Ali also contributed to the success of the company.

Headquartered in Karachi, the ZIL was incorporated as a private limited company in 1960. The firm manufactures and sells home and personal care products, including Pakistan’s famous Capri and Opal Soap.

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