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Open bidding for the sale of Lasbella Textile Mills assets was held at the PIDC house in Karachi on Monday March 19th 2001. Sadiq Woolen Mills, Gujrawala made the highest bid of Rs. 31 million for the processing unit of Lasbella textile mills. The second highest bidder was Ghani Textile mills Karachi with an offer of Rs. 30 Million. Five bidders including Bilal Trading Co., Farooq Sodagar and Haroon Textile took part in the bidding. 

The highest bid will be discussed in the Board meeting of the Commission and will subsequently be referred to the Cabinet Committee on Privatisation for approval