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The Pakistan Credit Rating Agency Limited
Press Release

Date
30-Oct-24

Analyst
Muhammad Atif Chaudhry
Atif.Chaudhry@pacra.com
+92-42-35869504
www.pacra.com

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This press release is being transmitted for the sole purpose of dissemination through print/electronic media. The press release may be used in full or in part without changing the meaning or context thereof with due credit to PACRA

PACRA Withdraws Entity Ratings of Zafa Pharmaceutical Laboratories (Pvt.) Limited

Rating Type Entity
Current
(30-Oct-24 )
Previous
(13-Sep-24 )
Action Withdraw Maintain
Long Term - A-
Short Term - A2
Outlook Stable
Rating Watch - -

Subsequent to the management's decision to discontinue the ratings, PACRA withdraws the Entity Ratings of Zafa Pharmaceutical Laboratories (Pvt.) Limited with an immediate effect.
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About the Entity
Zafa Pharmaceutical Laboratories (Pvt.) Limited has been operating in Pakistan since 1973. The company's Board of Directors (BoD) comprises five experienced professionals. Mr. Jawad Amin Khan, the CEO and Managing Director, brings over 30 years of experience in the pharmaceutical and healthcare sectors. He holds an MBA in Management and Marketing, as well as a BS in Operational Management and International Business from Pakistan. In addition to his role at Zafa, Mr. Khan holds senior positions in other companies within the pharmaceutical and packaging industries. Zafa Pharmaceutical Laboratories (Pvt.) Limited is a family-owned business, with Mr. Jawad Amin Khan owning approximately 91% of the company. Other shareholders include the late Mohammad Amin Khan (3.7%), Mrs. Zafar Amin (3.7%), Mrs. Maria Jawad Khan (0.11%), Mrs. Saba Ahmed (1.34%), and the remaining shares are held by Mr. Mohammad Shah Mir Amin Khan.

The primary function of PACRA is to evaluate the capacity and willingness of an entity to honor its obligations. Our ratings reflect an independent, professional and impartial assessment of the risks associated with a particular instrument or an entity. PACRA's comprehensive offerings include instrument and entity credit ratings, insurer financial strength ratings, fund ratings, asset manager ratings and real estate gradings. PACRA opinion is not a recommendation to purchase, sell or hold a security, in as much as it does not comment on the security's market price or suitability for a particular investor.