Ten fire engines brought the blaze under control in the factory which was stocked with ink, adhesives and chemicals.
There was no report of any injury or casualty, the sources said.
Fire and Emergency Services minister Javed Khan said the blaze would be investigated and it would be ascertained if its authorities took measures against fire and had a license from the fire department.
"If we find that the fire occurred due to their negligence then we will lodge an FIR against them," he told reporters after visiting the spot.
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