KARACHI – Pakistan’s corporate sector saw major developments this week as Stock Exchange touched record high, while market saw several mergers, and investors remained optimistic.
This weekly update highlights dynamic changes and developments shaping Pakistan’s corporate landscape.
Pakistan Refinery Limited gets Rs3.15bn Loan
Pakistan State Oil sanctioned loan of Rs3.15 billion to Pakistan Refinery Limited (PRL) to cover Front-End Engineering Design (FEED) costs, supporting ongoing projects of the firm.
Arif Habib Limited Demerger
Sindh High Court okayed demerger scheme for Arif Habib Limited, permitting the transfer of specific non-core businesses to its parent company, Arif Habib Corporation Limited.
NEPRA okays generation tariff for K-Electric
National Electric Power Regulatory Authority (NEPRA) has approved the generation tariff for K-Electric’s power plants established after June 2023, facilitating the company’s operational plans.
OGDC Begins New Production
Production at the Baloch-2 well in the Sembar formation, located in Sindh’s Sanghar district started. This development is expected to enhance OGDC’s production capacity and contribute to the energy sector.
Fatima Fertilizer Partners X NACAG
Fatima Fertilizers’ Multan plant is set to receive financial assistance to implement emission-reducing catalysts, following its collaboration with the Nitric Acid Climate Action Group (NACAG).
Changes in Stock regulations
Pakistan Stock Exchange (PSX) has proposed changes to its regulations to standardize brokerage commissions for securities brokers and reduce trading fees for GIS in the secondary market. These amendments aim to enhance market efficiency and accessibility.
Digicash – Solar Segments split
Pakistan State Oil decided to separate its Digicash and Solar business segments, merging them with other firms. This strategic move is subject to legal review and aims to streamline PSO’s operations.
Major Gas Discovery at Khairpur Shahu-1 Well
Pakistani state-owned oil and gas company made a noteworthy gas discovery at the Shahu-1 well in Khairpur, tapping into the lower Goru B Reservoir Sand.
FLL Licenses for telecom giant
Supernet Limited has been awarded Fixed Local Loop (FLL) licenses by the Pakistan Telecommunication Authority (PTA) for a duration of 20 years, commencing from October 22, 2024. This license will enable Supernet to enhance its telecommunications services.
Rousch Pakistan Power in talks for early termination of PPA
Rousch (Pakistan) Power Limited mulls early termination of its Power Purchase Agreement, a move that could reshape its operational strategy.
HBL Livestock Fund Approved for SECP Testing
HBL Livestock Fund got approval to participate in Sandbox Testing under Securities and Exchange Commission of Pakistan (SECP) 3rd Cohort initiative, positioning itself as a pioneering investment fund in agriculture-related businesses.
PSX creates yet another record as KSE-100 surges past 90,000 mark
