Bannu Woollen Mill Ltd was established by PIDC in 1953 and as such is the oldest woolen industry of Pakistan. On disinvestments by PIDC in 1964, it was purchased by Bibo Jee Group of Companies founded by a renowned industrialist of the country Late Lt.Gen.(R)M. Habibullah Khan Khattak. This group of companies is engaged in the manufacture of a vast range of products, providing jobs to thousands of hands directly and many more indirectly through down-stream industries and is making considerable contribution to the National exchequer and the GDP.