Economic Reporter :
Paramount, the most successful groups of companies’ of the country is rapidly expanding its’ footprint both in national and international arena since its beginning with Sunrise Chemicals in 1986.
The group after two decades of successful operation in trading, chemical, insurance and real estate business, has established itself into the textiles sector, with Paramount Textiles, its company secretary Md. Robiul Islam told the New Nation in an exclusive interview.
The Paramount Textile mainly produces world class yarn dyed woven fabrics, mostly nominated by world renowned retailers and brands with highly professional expertise since its commercial launching in 2008.
Presently the paid-up capital of the company stood at around Tk117 crore and yearly turnover is around Tk40 million. It has enlisted its name with the Stock Exchanges in 2013. The company has taken decision to release bond in the market apparently to keep control on expenditures. Lion share of finished products of the company has long been used by renowned American and European brands.
The company also comply all sorts of social compliance as per country and its buyer requirements and ensure workers right, safety etc as well within the company. To reduce carbon emission and save the mother earth, the company has already introduced greeneries concept as well others initiatives within the company.
“Our textile unit so far has produced and distributed about one billion yards of fabrics. It regularly pays VAT, tax and other fees to government. In the meantime, sophisticated machineries have been installed to increase production capacity and develop quality,” Md. Robiul Islam said.
For its extraordinary performances, it achieved National Export Trophy 2010-11, 2011-12 and 2013-14, and also got 3rd ISSB national award-2015 on corporate governance in the criteria of textile and readymade garment. Company’s Managing Director Sakhawat Hossain has been honoured with CIP status.
Robiul Islam, who is also an associate member of Institute of Chartered Secretaries of Bangladesh as well CIMA (UK), LL.B, PGDHR and Income tax lawyer, said: “Currently, the garments and textile sector is expanding, which is also providing jobs to thousands of people. Two specialized sectors are now playing vital role in the economy, one is readymade garments and textile, and another is foreign remittance. In both cases, the GDP growth is stable.”
Pointing the future prosperity of textile sector, he said: “Textile is a flourishing sector. There are about 7 crore young working force in the country. If we can employ the vast population, the development of the country will get momentum. The government is trying to get fruit from the demographic dividend.
The mother organization, Paramount Group, comprises several components, including Paramount Textile Ltd, Paramount Insurance Company Ltd, Paramount Holdings Ltd, Paramount Agro Ltd, Paramount Green Garments Ltd, Sunrise Chemicals Industries Ltd, Foodex International Ltd etc and Paramount Spinning Ltd, etcetera.
In target of serving the country, the Paramount has also been diverting businesses to various industries and sectors; creating employment facilities for five thousand people. It mainly focuses on world class infrastructure, modern technology, uncompromising quality standards and dynamic product innovation in each and every unit.
Paramount, the most successful groups of companies’ of the country is rapidly expanding its’ footprint both in national and international arena since its beginning with Sunrise Chemicals in 1986.
The group after two decades of successful operation in trading, chemical, insurance and real estate business, has established itself into the textiles sector, with Paramount Textiles, its company secretary Md. Robiul Islam told the New Nation in an exclusive interview.
The Paramount Textile mainly produces world class yarn dyed woven fabrics, mostly nominated by world renowned retailers and brands with highly professional expertise since its commercial launching in 2008.
Presently the paid-up capital of the company stood at around Tk117 crore and yearly turnover is around Tk40 million. It has enlisted its name with the Stock Exchanges in 2013. The company has taken decision to release bond in the market apparently to keep control on expenditures. Lion share of finished products of the company has long been used by renowned American and European brands.
The company also comply all sorts of social compliance as per country and its buyer requirements and ensure workers right, safety etc as well within the company. To reduce carbon emission and save the mother earth, the company has already introduced greeneries concept as well others initiatives within the company.
“Our textile unit so far has produced and distributed about one billion yards of fabrics. It regularly pays VAT, tax and other fees to government. In the meantime, sophisticated machineries have been installed to increase production capacity and develop quality,” Md. Robiul Islam said.
For its extraordinary performances, it achieved National Export Trophy 2010-11, 2011-12 and 2013-14, and also got 3rd ISSB national award-2015 on corporate governance in the criteria of textile and readymade garment. Company’s Managing Director Sakhawat Hossain has been honoured with CIP status.
Robiul Islam, who is also an associate member of Institute of Chartered Secretaries of Bangladesh as well CIMA (UK), LL.B, PGDHR and Income tax lawyer, said: “Currently, the garments and textile sector is expanding, which is also providing jobs to thousands of people. Two specialized sectors are now playing vital role in the economy, one is readymade garments and textile, and another is foreign remittance. In both cases, the GDP growth is stable.”
Pointing the future prosperity of textile sector, he said: “Textile is a flourishing sector. There are about 7 crore young working force in the country. If we can employ the vast population, the development of the country will get momentum. The government is trying to get fruit from the demographic dividend.
The mother organization, Paramount Group, comprises several components, including Paramount Textile Ltd, Paramount Insurance Company Ltd, Paramount Holdings Ltd, Paramount Agro Ltd, Paramount Green Garments Ltd, Sunrise Chemicals Industries Ltd, Foodex International Ltd etc and Paramount Spinning Ltd, etcetera.
In target of serving the country, the Paramount has also been diverting businesses to various industries and sectors; creating employment facilities for five thousand people. It mainly focuses on world class infrastructure, modern technology, uncompromising quality standards and dynamic product innovation in each and every unit.
