Two local companies make it to Forbes Asia’s Best Under A Billion 2020 list

Two local companies have made it to this year's Forbes ‘Asia’s Best Under A Billion 2020’ list.

The Forbes list recognises 200 small and medium-sized which have performed the best in the Asia-Pacific region. Criteria is for the companies to have sales below the $1 billion mark.

Systems Limited Pakistan (SLP), a software company, and textile company Feroze1888 Mills Ltd are part of the list from Pakistan.

The achievement was recognised by Advisor for Commerce, Textile, Industry and Production, and Investment Abdul Razak Dawood and he congratulated the companies for making the list.

The adviser said he had always believed in the "entrepreneurship of our people" and expressed hope that other companies also get encouraged to "achieve similar laurels".

Earlier this year, a Pakistani-American has emerged as the 66th richest person in the United States in 2020 according to Forbes list of 400 richest Americans.

Shahid Khan, with a net worth of $7.8 billion, is an engineer by trade and is the only Pakistani-American on the list. He has been on the list for the past few years. He migrated to the US in his teens, with a few hundred dollars in his pocket.

Khan bought auto parts supplier Flex-N-Gate from his former employer in 1980 and his design for a one-piece truck bumper was the basis for his success. Khan's company now has 64 plants worldwide and over 24,000 employees.

He also owns the NFL's Jacksonville Jaguars, which he bought in 2012, and UK's Fulham football club, which he bought in 2013.