New York | ReNews International Desk News
Private equity firm New Mountain Capital has agreed to acquire Asset Living, a major residential property management company, in a deal valued at more than 2 billion dollars.
The transaction marks a significant corporate real estate move in the United States, as investors continue to target companies linked to rental housing, student accommodation and affordable housing management.
Asset Living manages a wide portfolio of multifamily, student housing and affordable housing properties. The company’s business model is tied to the growing demand for professional property management services in the residential sector.
According to details, Asset Living Chief Executive Officer Ryan McGrath is expected to remain involved with the company after the deal. The transaction also includes an owned real estate portfolio, strengthening the property-linked nature of the acquisition.
Market observers say the deal reflects continued investor confidence in residential real estate services, even as high borrowing costs and affordability pressures continue to affect parts of the housing market.
The acquisition is also expected to support further consolidation in the property management sector, where large investment firms are increasingly seeking scale, recurring income and exposure to long-term rental housing demand.

Islamabad | ReNews Pakistan
Ignite, operating under the Ministry of Information Technology and Telecommunication, has signed an agreement with a Mobilink Bank-led consortium, which includes CyberVision International, to establish and operate the National Incubation Center Sialkot.
The initiative marks another major step in strengthening Pakistan’s innovation and entrepreneurship ecosystem by expanding startup support infrastructure beyond major metropolitan cities. NIC Sialkot is designed to provide a dedicated platform for technology driven startups, innovative businesses and young entrepreneurs in one of Pakistan’s most important industrial and export hubs.
The signing ceremony was held at the Ministry of IT and Telecommunication offices in Islamabad. Senior officials from the ministry, Ignite, Mobilink Bank and partner organisations attended the event.
Speaking on the occasion, Federal Minister for Information Technology and Telecommunication Shaza Fatima Khawaja said the establishment of NIC Sialkot reflects Prime Minister Shehbaz Sharif’s Digital Nation Pakistan vision. She said the government is committed to promoting innovation and digital entrepreneurship across the country by providing young entrepreneurs with access to the right resources, mentorship and growth opportunities.
Sialkot is globally recognised for its sports goods, surgical instruments, leather products and musical instruments industries. In recent years, the city has also emerged as a growing centre for e-commerce, digital trade and export oriented business activity. The establishment of NIC Sialkot is expected to build on this industrial strength by connecting traditional manufacturing sectors with modern technology, digital tools and startup-led innovation.
According to officials, NIC Sialkot will support up to 25 startups annually through a structured incubation programme. Selected startups will receive mentorship, business development support, investor linkages, market access opportunities, networking facilities and guidance to scale their ventures.
The centre is also expected to contribute to employment generation, technology adoption, industrial productivity and export competitiveness by helping entrepreneurs develop solutions that address local business needs while remaining globally competitive.
CEO Ignite Muhammad Bilal Abbasi said NIC Sialkot is another important milestone in Ignite’s mission to strengthen Pakistan’s startup ecosystem. He said the centre will help entrepreneurs transform innovative ideas into scalable businesses while encouraging technology adoption across industrial and export-oriented sectors.
The National Incubation Center Sialkot aims to empower local entrepreneurs to build companies capable of competing in national and international markets.
Applications for the inaugural Cohort 1 incubation programme have also been officially opened. Interested startups can apply through the NIC Sialkot website at www.nicsialkot.com.
President and CEO Mobilink Bank Haaris Mahmood Chaudhary said Pakistan’s economic resilience requires broad based participation rather than growth concentrated in a few major cities. He said innovation must be accessible, inclusive and rooted in local business realities.
He added that through NIC Sialkot, Mobilink Bank and its partners will equip entrepreneurs with mentorship, digital tools, financial solutions and market access to help them scale their businesses with confidence.
While the incubation centre will remain open to startups from all sectors, it will particularly encourage ventures aligned with Sialkot’s industrial strengths. These include sports technologies, healthcare and surgical technologies, manufacturing innovation, e commerce, export enabling solutions and emerging digital industries.
The centre will also focus on high-growth technology areas such as Artificial Intelligence, Industry 4.0, advanced manufacturing, smart supply chains, health technologies and digital commerce.
The National Incubation Center initiative is one of Pakistan’s leading technology incubation and acceleration programmes. It is funded by the Ministry of IT and Telecommunication and Ignite National Technology Fund. NICs operate as a nationwide network of regional centres in major cities, working in partnership with private sector organisations, academic institutions and global accelerators to support Pakistan’s startup ecosystem.

Islamabad | ReNews Pakistan
Federal Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal has said that the federal government is establishing a modern Federal Special Economic Zone over 500 acres in Karachi’s Port Qasim area, which will be completed by December 2026.
Speaking exclusively to the media, Ahsan Iqbal said the project would prove to be an important milestone for industrial development, investment promotion and export growth in the country. According to him, a total of Rs7 billion has been allocated for the project, of which Rs1.5 billion has already been spent.
The federal minister said that an additional Rs5.5 billion has been allocated in the federal budget for fiscal year 2026-27 to complete the project. He added that Prime Minister Muhammad Shehbaz Sharif has issued instructions to complete the project at the earliest, under which construction and development work is progressing rapidly.
Ahsan Iqbal expressed hope that the Port Qasim Special Economic Zone would be completed and made operational by December 2026. He said Prime Minister Shehbaz Sharif is giving special attention to the development of the business and industrial sectors so that new employment opportunities can be created, investment can increase and the export sector can be further strengthened.

Islamabad | ReNews Pakistan
Pakistan and Saudi Arabia have signed several important agreements aimed at further strengthening investment and economic cooperation between the two countries. The development came during the two day meeting of the Pakistan Saudi Joint Business Council, attended by investors, government representatives and business leaders from both sides.
During the meeting, agreements were reached between Saudi Arabia and Pakistan for the construction and development of ports and motorways, while both countries also agreed on the construction of the Hyderabad Karachi Motorway. In addition, agreements were signed for investment and development in the real estate and minerals sectors.
The agreements were signed in the presence of former caretaker federal minister Gohar Ejaz, while Prince Mansour bin Saud, head of the Saudi delegation, signed the agreements on behalf of Saudi Arabia.
According to officials, the meeting was hosted by the SIFC and the Pakistan Saudi Joint Business Council. It was jointly chaired by Gohar Ejaz and Fawad Mukhtar, while the Saudi delegation was led by Prince Mansour bin Saud.
During the meeting, Saudi investors were given a detailed briefing on joint investment projects in Pakistan, along with opportunities in the power sector, transmission lines, smart metering, petroleum and minerals.
Business to business and government level meetings were also held between the two countries, during which participants discussed new investment prospects, joint ventures and ways to enhance economic cooperation. Officials said the agreements would pave the way for Saudi investment in Pakistan’s infrastructure, energy, minerals and real estate sectors.

Karachi | ReNews Pakistan
Quantum Global Data Centre, a venture of the Gul Ahmed Energy Group, has announced plans to develop Pakistan’s largest Tier III data centre with an initial investment of $230 million, marking a major step toward strengthening the country’s digital infrastructure.
The company said commercial operations of the facility are expected to begin in 2027. According to QGDC, the project has the potential to attract total investment of up to $600 million over the next three to four years as the company expands its infrastructure to meet rising demand for digital services, cloud computing and artificial intelligence applications across Pakistan.
The announcement was made at the Q Summit, where QGDC also signed a strategic partnership agreement with Huawei Pakistan. Under the partnership, both sides will work on the development of the data centre as well as the establishment of a science and technology park aimed at supporting Pakistan’s broader digital transformation agenda.
QGDC Chairman Danish Iqbal said Pakistan is still in the early stages of artificial intelligence adoption, but the country is already spending between $700 million and $800 million annually on related technologies and services. He said demand for computing power is expected to grow rapidly as businesses, institutions and digital platforms increase their reliance on advanced technology.
Danish Iqbal warned that Pakistan could become increasingly dependent on imported computing capacity and foreign data services if local infrastructure is not developed at a faster pace. He said large scale investment in data centres is essential to support economic growth and ensure that the country is prepared for future demand in artificial intelligence, cloud services and advanced computing.
According to the company, demand for local data centre capacity is already significant and is expected to rise further as businesses, hospitals, educational institutions, financial institutions and digital platforms continue shifting their operations to cloud based systems.
The project is expected to help reduce reliance on overseas data infrastructure, improve local digital capacity and support the growth of emerging technologies across multiple sectors of the economy. Industry observers believe the development could become an important milestone for Pakistan’s technology ecosystem at a time when digital transformation is becoming central to economic competitiveness.

Lahore | ReNews Pakistan
The Pakistan China Joint Chamber of Commerce and Industry has welcomed the establishment of Pakistan’s first coal based fertilizer plant under the China Pakistan Economic Corridor, describing it as a game changing project for the country’s agriculture, industrial development and food security.
According to PCJCCI, the project involves an investment of $1.12 billion and is expected to increase local fertilizer production while reducing Pakistan’s dependence on imported fertilizers. The chamber said the project would play an important role in strengthening the agriculture sector, ensuring timely and relatively affordable fertilizer supplies for farmers, promoting industrial activity and creating new employment opportunities.
PCJCCI President Nazir Hussain said the use of local coal resources for fertilizer production was a highly significant development for Pakistan. He said the initiative would help ensure continuity in fertilizer supply, reduce import pressure and lower production costs for farmers.
He said the first coal based fertilizer plant under CPEC was not merely an industrial project but a strategic investment in Pakistan’s agricultural future. The availability of affordable and consistent fertilizer, he added, would directly support higher crop yields, strengthen food security and improve the competitiveness of Pakistan’s agricultural exports.
PCJCCI Senior Vice President Brigadier Mansoor Saeed Sheikh said China had achieved remarkable success in agricultural modernization, offering valuable lessons for Pakistan. He said Pakistan had immense untapped potential across its diverse agro-climatic zones, which could be utilized through modern irrigation, smart farming and improved cultivation practices.
He said dryland farming could be promoted through modern technology, while the Indus Delta region could benefit from Chinese models of integrated rice and fish farming. He added that modern Chinese techniques, particularly water-based cultivation systems, could also be adopted in Sindh’s coastal areas and small islands to increase agricultural output despite environmental and water-related challenges.
PCJCCI Vice President Amir Ali said the coal-based fertilizer plant would not be limited to fertilizer production but would also serve as a foundation for broader agricultural reforms and modernization. He said China’s expertise in agricultural mechanization, smart farming, aquaculture and agro-industrial development could help Pakistan fully utilize the potential of its agriculture and blue economy sectors.
Chamber officials said the project reflected how Chinese investment could contribute effectively to Pakistan’s long-term development goals, food security, industrial expansion and sustainable agricultural growth.

Islamabad | ReNews Pakistan
Meezan Bank’s Easy Home Housing Finance has achieved a major milestone under the Prime Minister’s Apna Ghar Housing Finance Programme, disbursing Rs1 billion in loans since the launch of the initiative.
According to the bank, the achievement reflects the Government of Pakistan’s vision to promote affordable housing and expand access to housing finance for underprivileged segments of society.
As Pakistan’s largest Islamic bank, Meezan Bank said it remains committed to facilitating home ownership through Shariah compliant financial solutions, with a particular focus on salaried individuals and middle income households.
The bank is providing housing finance facilities under the programme through a network of 350 designated branches across the country, with special emphasis on helping low-income and salaried customers turn their dream of owning a home into reality.
The milestone is also part of the State Bank of Pakistan’s broader objective to promote affordable housing and increase access to formal housing finance, supporting national efforts toward financial inclusion, economic development and improved living standards.

Islamabad | ReNews Pakistan
Anjuman e Tajiran has strongly opposed the proposed Asan Tax Scheme for traders, warning that the new tax regime could lead to double taxation and place an additional financial burden on retailers and small shopkeepers already facing difficult economic conditions.
The objections were raised after Minister of State for Finance Bilal Azhar Kayani proposed a simplified tax scheme for traders ahead of the federal budget 2026 27. Traders’ representative Muhammad Naeem Mir, who is also chief coordinator of the Tajir Dost Scheme, has written an urgent letter to Prime Minister Shehbaz Sharif, urging him to review the proposed tax framework before its inclusion in the upcoming budget.
In his letter, Mir questioned the need for introducing another tax mechanism for traders when taxes are already being collected at source from wholesalers, distributors, dealers and retailers under Sections 236G and 236H of the Income Tax Ordinance 2001.
He argued that the proposed scheme would effectively duplicate the existing tax structure and amount to double taxation. He said traders and shopkeepers are already contributing taxes through advance tax deductions and income tax returns, and any additional tax would be unjustified.
According to Mir, provincial governments are already collecting various taxes and levies from businesses, while the federal government and the Federal Board of Revenue are also increasing pressure on taxpayers to meet revenue targets. He said the business community, particularly small retailers, cannot afford another layer of taxation at a time when market conditions remain challenging.
Mir warned that the introduction of a new tax scheme could create uncertainty among traders and trigger fresh confrontation between tax officials and the trading community in field formations. He said the government should avoid measures that may create unrest among shopkeepers and small businesses.
Recently, Minister of State for Finance Bilal Azhar Kayani held a meeting with a delegation of Markazi Tanzeem Tajran Pakistan, led by its president Kashif Chaudhry, to discuss the proposed simplified tax scheme for the upcoming budget. However, Naeem Mir refused to attend the meeting in protest.
Mir said there was no justification for launching another registration scheme for shopkeepers and traders after the failure of the Tajir Dost Scheme. He said the government should instead use data available through Sections 236G and 236H to enforce return filing among unregistered retailers.
He explained that advance tax on purchases under Section 236G, applicable to purchases made by distributors, dealers and wholesalers from manufacturers and commercial importers, had been reduced from 2 percent for non-filers to 0.1 percent for filers.
Similarly, advance tax collected on sales to retailers by manufacturers, commercial importers and distributors under Section 236H had been reduced from 2.5 percent for non-filers to 0.5 percent for filers. However, non filers are still required to pay 2 percent under Section 236G and 2.5 percent under Section 236H.
Mir maintained that the revenue potential from Sections 236G and 236H is far higher than the estimated Rs50 billion expected from the failed Tajir Dost Scheme. He said the FBR should focus on effective enforcement through existing tax data rather than launching a fresh scheme.
“There should be no additional tax on traders and shopkeepers,” Mir said, adding that traders should not be overburdened but should contribute their due share to the national exchequer through a fair and practical tax system.
He urged Prime Minister Shehbaz Sharif to reconsider the proposed Asan Tax Scheme and take steps to protect traders, shopkeepers and small businesses from unnecessary financial pressure.

Islamabad | ReNews Pakistan
Hashoo Group Real Estate Division and Mujahid Properties (Pvt.) Limited have signed a Memorandum of Understanding (MoU)for a joint venture to develop the 16 Sina Project in Islamabad’s New Blue Area.
The signing ceremony and project briefing were attended by senior officials from both sides, including Murtaza Hashwani, CEO and Deputy Chairman of Hashoo Group, Shakir Bhura, CEO of Hashoo Group Real Estate Division, Syed Sulaiman Tahir, Chief Operating Officer, Muhammad Faizan, Chief Financial Officer, and Atif Ikram Sheikh, Chairman Mujahid Group of Industries and CEO of Mujahid Properties.
Representatives from FPCCI and associated chambers also attended the event, along with senior officials of Amanah.pk, a Shariah compliant real estate investment and advisory firm that facilitated the joint venture.
Speaking at the ceremony, Shakir Bhura described 16 Sina as a major addition to the evolving skyline of Islamabad. He said the project is planned to rise up to 30 storeys and will include spacious parking facilities, retail floors, serviced office spaces, luxury serviced residential apartments and six exclusive penthouses.
Bhura said parking remains one of the major challenges in New Blue Area, adding that the project has been designed to address this issue while providing a modern and premium urban environment for businesses, residents and visitors.
He said the development will feature a distinctive architectural style and will also include Hashoo Group’s signature food outlets. According to him, all project inventory will be developed in line with the quality standards associated with Hashoo Group’s hospitality brands, including Pearl Continental Hotels & Resorts and Hotel One.
Bhura added that Hashoo Group will act as the lead partner for construction management, development execution, sales strategy, branding and operational planning. He said both partners are committed to delivering the project within a three year timeline.
“This is a project of great importance, and both partners are completely aligned in their vision and commitment,” he said, adding that work on the project will begin immediately after the signing.
He also expressed confidence in Pakistan’s real estate sector, saying the country continues to offer strong opportunities for investment and development despite global uncertainty.

Lahore | ReNews Pakistan
The Nishat Group has strongly rejected reports circulating on social media regarding any change in ownership structure or possible redevelopment plans linked to Rafhan Maize Products Company Limited, describing the claims as speculative, unverified and entirely unfounded.
In a public clarification, prominent businessman Mian Mohammad Mansha said the group had taken notice of information being shared online about Nishat Group and Rafhan Maize. He stated that no proposal related to ownership changes, restructuring, or redevelopment of Rafhan Maize property had been approved, nor was any such proposal currently under consideration.
Mian Mansha urged the public, investors and media outlets to avoid sharing unverified information, stressing that speculative reports can create unnecessary confusion in the market and among stakeholders.
The clarification comes after the Competition Commission of Pakistan recently approved the acquisition of shareholding in Rafhan Maize Products Company Limited by a consortium of acquirers comprising Nishat Group entities and associated individuals.
According to the earlier approval, the transaction involves the acquisition of shares in Rafhan Maize from Ingredion Incorporated, the majority seller, along with other individual shareholders. The deal was cleared after a Phase I review under Section 11 of the Competition Act, 2010.
The acquiring entities include Nishat Hotels and Properties Limited, D.G. Khan Cement Company Limited, Nishat Mills Limited, Lalpir Power Limited, Pakgen Power Limited, Nishat Power Limited, Nishat Chunian Power Limited and associated individuals.
Rafhan Maize Products Company Limited is one of Pakistan’s leading industrial food ingredients and corn refining companies. The company has long held an important position in the country’s manufacturing and food supply chain.
The Nishat Group’s clarification appears aimed at addressing speculation that emerged after the share acquisition approval, particularly claims suggesting that the deal could lead to a change in the company’s future operational direction or the redevelopment of its assets.
The group maintained that any public discussion about such matters must be based on verified information and official statements rather than social media speculation.

Faisalabad | ReNews Pakistan
China’s Dongjin Group is set to establish a $15 million lithium and dry battery manufacturing facility in Allama Iqbal Industrial City, Faisalabad, marking another important step toward strengthening Pakistan’s emerging battery manufacturing sector.
The planned facility will be developed in the Special Economic Zone near Faisalabad. The investment agreement has been signed with the Punjab Board of Investment and Trade, as Pakistan continues efforts to attract advanced manufacturing projects under investor friendly industrial policies.
The project is expected to help meet Pakistan’s rising demand for batteries, particularly as the country witnesses growing adoption of electric vehicles, solar power systems and renewable energy storage solutions. Officials believe local battery production can play a key role in reducing dependence on imports while supporting industrial growth.
Speaking about the investment, Sharqi Ali Tipu, Director of Marketing at the Punjab Board of Investment and Trade, said Dongjin Group decided to invest in Pakistan after observing strong market demand for batteries, especially in the electric vehicle and solar energy sectors.
He said the project is likely to generate significant economic and industrial activity across several connected sectors. These include electronics, automotive components, packaging, chemicals and engineering services. The facility is also expected to create employment opportunities in Faisalabad and nearby areas.
According to officials, the battery plant will also support the transfer of modern manufacturing technology to Pakistan’s local industry. This is considered important as the country moves toward building domestic capacity in high value industrial sectors.
Allama Iqbal Industrial City is one of Pakistan’s key Special Economic Zones developed under the China Pakistan Economic Corridor framework. The zone offers modern infrastructure, strategic connectivity and incentives aimed at attracting local and foreign investors.
Under Pakistan’s Special Economic Zone incentive package, Dongjin Group will be eligible for a 10-year income tax holiday. The company will also receive a one-time exemption from customs duties and taxes on the import of plant and machinery.
Officials from the Punjab Board of Investment and Trade said the board will continue to support the company throughout the investment process to ensure smooth implementation of the project.
Industry stakeholders believe the establishment of advanced battery manufacturing facilities is becoming increasingly important for Pakistan. They say the growth of electric vehicles, solar energy and energy storage systems has created a major opportunity for local manufacturing.
Former Chairman of the Engineering Development Board, Almas Hyder, said Pakistan is gradually moving toward the localization of lithium ion battery manufacturing. He said this shift can strengthen the country’s energy security and reduce reliance on imported battery products.
He also expressed hope that the recently introduced Battery Manufacturing Policy 2026–31 would encourage further domestic production and private-sector investment in the sector.
Hyder said batteries have become strategically important worldwide due to rising demand linked with renewable energy, electric vehicles and grid stability. He added that increased battery production in Pakistan could help reduce dependence on expensive electricity and imported fossil fuels.
The proposed Dongjin Group facility is being seen as an important investment for Pakistan’s industrial future, particularly at a time when the country is seeking to expand local manufacturing, promote clean energy solutions and attract technology based foreign investment.

Gwadar | ReNews Pakistan
A high level Iranian trade delegation has arrived in Gwadar in what is being described as an important development for strengthening economic, trade and logistics cooperation between Pakistan and Iran.
The delegation from the Chabahar Free Zone Organization is being led by its Chairman, Muhammad Saeed Arbabi. The team crossed into Pakistan through the Gabd Rimzan border, a key crossing point between Pakistan and Iran.
The visiting delegation includes prominent Iranian investors, logistics experts and representatives associated with international trade and regional connectivity. Upon arrival at the border, the delegation was received by President of the Gwadar Chamber of Commerce and Industry, Jehand Hut, along with other representatives.
The Iranian delegation is visiting Gwadar on the invitation of the Gwadar Chamber of Commerce and Industry. During the visit, the team is scheduled to tour the Gwadar Free Zone, Gwadar Port and various ongoing development projects in the city.
Officials said the delegation will review investment opportunities, port operations, logistics facilities and infrastructure available for trade and transit movement. The visit is also expected to focus on enhancing business to business contacts between the two sides.
According to trade circles, the visit carries particular importance due to the strategic location of Gwadar and Chabahar, both of which are seen as key ports for regional trade, logistics and connectivity.
Significant discussions are expected regarding the development of a joint logistics network, transit trade arrangements and mutual cooperation between Gwadar and Chabahar. Business representatives believe such cooperation could help improve regional trade flows and create new investment opportunities in port-related sectors.
The visit is being viewed as a positive step toward expanding Pakistan Iran economic engagement, particularly in logistics, transit trade, port development and cross border investment.

Karachi | ReNews Pakistan
Dubai Islamic Bank Pakistan Limited (DIBPL) has successfully closed a USD 76 million financing facility in connection with the acquisition of a majority stake in Attock Cement Pakistan Limited.
The acquisition involves an 84.06% stake in Attock Cement Pakistan Limited by a consortium comprising Fauji Cement Company Limited and Kot Addu Power Company Limited. The transaction is being described as a significant development in Pakistan’s mergers and acquisitions landscape, particularly in the industrial and cement sectors.
DIBPL played a central role in the transaction as the largest financier, lead advisor and Shariah advisor. The bank structured and arranged the financing through a Shariah compliant solution, with Mohsin Tayebaly & Co serving as transaction legal counsel.
Muhammad Ali Gulfaraz, President of DIBPL, said the bank was pleased to support the strategic acquisition through a comprehensive financing and advisory solution. He stated that the transaction reflected DIBPL’s continued focus on enabling complex and high-impact deals while delivering value to its clients.
Khadija Wajahat, Head of Investment Banking at DIBPL, said the milestone highlighted the strength of Dubai Islamic Bank’s global platform, combining financing, advisory and Shariah structuring capabilities. She added that the bank remained committed to supporting strategic transactions that contribute to sustainable economic growth.
According to DIBPL, the successful closure of the financing also reflects its ability to provide innovative financial solutions for major conglomerates in Pakistan. The bank also acknowledged its partnership with the management teams of the acquiring companies and their sponsors, noting that close coordination helped execute a transaction of this scale and complexity.
The deal marks the transfer of a strategic industrial asset from foreign to local ownership. It is expected to support long-term value creation and contribute positively to Pakistan’s domestic economy.

Karachi | ReNews Pakistan
Governor of Sindh Syed Muhammad Nehal Hashmi has extended a formal invitation to Uzbek investors to explore Pakistan’s diverse investment landscape, particularly in Sindh, underscoring the province’s vast economic potential across multiple sectors.
He made these remarks during a meeting with an Uzbek business delegation led by Governor of Navoi Region Normat Tursanov at the Governor House on Saturday. The meeting was also attended by Uzbekistan’s Ambassador Alisher Tukhtaev, Chairman Businessmen Group Muhammad Zubair Motiwala, and Sohail Moten.
The Sindh Governor highlighted that the Dhabeji Special Economic Zone (SEZ) offers promising prospects for foreign investors, especially in manufacturing, logistics, energy, textile, and agriculture sectors. He assured the delegation that the government is committed to providing full facilitation and a business friendly environment within economic zones to attract international investment.
Emphasizing Karachi’s role as Pakistan’s economic hub, the Governor stressed the importance of strengthening trade linkages between Karachi and Uzbekistan’s Navoi region. He noted that enhanced cooperation could unlock new avenues for trade and industrial collaboration between the two regions.
During the meeting, Governor Normat Tursanov congratulated Nehal Hashmi on assuming office and extended an invitation to visit Navoi Region, including Tashkent, which was warmly accepted. He also pointed to Navoi’s rich historical heritage and tourism potential, proposing greater cultural exchanges, business forums, and joint ventures between the two countries.
Both sides reaffirmed their commitment to deepening bilateral trade and investment ties. They also discussed improving connectivity, noting that while direct flights from Uzbekistan to Lahore and Islamabad are already operational, there is a strong desire to initiate direct air links to Karachi to facilitate trade and travel.
Ambassador Alisher Tukhtaev highlighted the growing trade relations, stating that Uzbek businesses are already importing pharmaceutical, surgical, sports, textile, and leather goods from Pakistan. He noted a strong demand in Uzbekistan for Pakistani livestock, particularly sheep and goats, as well as fresh fruits.
He further revealed that more than 3,000 Pakistani students are currently enrolled in universities across Uzbekistan, reflecting growing people to people connections. Additionally, Uzbekistan’s trade volume has witnessed a steady 7 percent growth over the past four years.
The meeting concluded with both sides agreeing to enhance support for the business community and take concrete steps to increase bilateral trade volume, signaling a renewed push towards stronger economic and strategic cooperation between Pakistan and Uzbekistan.

Islamabad | ReNews Pakistan
President Asif Ali Zardari has called for enhanced industrial cooperation between Pakistan and China, underscoring the need for stronger partnerships in technology transfer, skill development, and joint ventures to accelerate Pakistan’s infrastructure and industrial growth.
The president made these remarks during his visit to SANY Heavy Industry Company Ltd in Changsha, Hunan province, according to an official statement from the President House Media Wing. The visit was aimed at exploring new avenues for collaboration in engineering, construction machinery, and advanced manufacturing technologies.
During his tour, President Zardari expressed appreciation for the scale, sophistication, and technological capabilities of SANY’s manufacturing ecosystem. He highlighted the vast potential for bilateral cooperation in key sectors including construction machinery, digital manufacturing, clean energy, and engineering solutions.
SANY Group Chairman Tang Xiuguo briefed the president on the company’s core operations and global footprint. Both sides discussed opportunities for expanding collaboration in manufacturing, technology exchange, and capacity building, with the Chinese side expressing a strong willingness to deepen engagement with Pakistan.
In a separate engagement, President Zardari visited Hunan Tea Group Co., Ltd., where Chairman Zhou Zhongwang provided a comprehensive overview of the company’s integrated business model. The briefing covered the group’s operations across cultivation, processing, research, marketing, and global distribution.
The president was informed about the group’s role as a central coordinating platform for Hunan’s tea sector, linking growers, industry stakeholders, and research institutions while facilitating branding and market access. He also observed presentations on tea processing and culture and participated in a tea tasting session.
Highlighting Pakistan’s potential in agriculture and exports, President Zardari pointed to opportunities for collaboration in value addition, agro processing, and export development. He invited Hunan Tea Group to explore partnerships that could enhance Pakistan’s agro based industries and expand its footprint in international markets.
The visit reflects Pakistan’s broader strategy to leverage its longstanding partnership with China to attract investment, modernise its industrial base, and promote sustainable economic growth through targeted sectoral cooperation.

Lahore | ReNews Pakistan
The Board of Directors of the Punjab Industrial Estates Development and Management Company (PEDMC), chaired by Javed Iqbal, held its 173rd meeting and approved the provision of gas at subsidized rates up to the zero point for Quaid e Azam Business Park and Bhalwal Industrial Estate.
Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain and Secretary Industries and Commerce Omar Masood attended the meeting via video link.
Other participants included Sajid Saleem Minhas, Mian Nauman Kabir, Muhammad Ahmed Khan, Shahzad Azam Khan, Dr. Shahid Raza, CEO PEDMC Captain (R) Shoaib Ali, COO Ali Muazzam Syed, and officials from the Finance Department.
The board also approved the expansion of the Jamia Mosque in Sundar Industrial Estate, the disposal of PEDMC’s scrap and assets, and the signing of a memorandum of understanding with the Trade Development Authority of Pakistan. Additionally, a committee was formed to oversee the sale of commercial areas and initiate commercial activities in Quaid e Azam Business Park.
Chairman Javed Iqbal stated that the provision of gas up to the zero point in industrial zones will ensure timely and affordable energy supply to industries, significantly reducing production costs. He added that PEDMC is committed to facilitating investors by improving infrastructure and services across its managed industrial zones.

Islamabad | ReNews Pakistan
Overseas investors have called on the government to expand Pakistan’s tax base instead of placing additional burden on existing taxpayers, as part of recommendations presented for the Federal Budget 2026–27. The proposals were shared during a meeting between Minister of State for Finance and Revenue Bilal Azhar Kayani and representatives of the Overseas Investors Chamber of Commerce and Industry (OICCI).
The OICCI outlined a comprehensive set of tax reforms aimed at creating a fair, predictable, and investment friendly fiscal environment. Secretary General M. Abdul Aleem said the recommendations were developed after extensive consultations with member companies and emphasized documentation and digitization as key pillars of tax reform. He stressed that all sectors of the economy including agriculture, retail, wholesale, real estate, and services must contribute equitably according to their economic activity.
The meeting was also attended virtually by Dr. Najeeb Memon, Director General of the Tax Policy Office (TPO). Minister Kayani welcomed the input from foreign investors, underscoring the importance of continued engagement with stakeholders to promote economic growth, enhance transparency, and broaden the tax net.
Among its key proposals, the OICCI recommended reducing the corporate tax rate to 28 percent in FY2026–27, followed by a gradual cut to 25 percent over the next three years. It also called for the phased elimination of the Super Tax, noting that when combined with other levies such as the Workers Welfare Fund and Workers Profit Participation Fund, the effective tax burden on companies rises to nearly 46 percent.
The chamber further highlighted concerns about high taxation in the banking sector, warning that it could limit banks’ capacity to deploy capital efficiently, thereby affecting the availability and cost of financing for businesses.
To retain skilled professionals and discourage brain drain, OICCI proposed abolishing the Super Tax and the 10 percent surcharge on high-income salaried individuals, while capping the maximum personal income tax rate at 25 percent.
Additional recommendations included rationalizing withholding taxes, reducing the general sales tax on goods from 18 percent to 17 percent with a gradual reduction to 15 percent, and reviewing minimum and alternate minimum tax regimes.
During the discussion, foreign investors also raised operational challenges, including delays in tax refunds, frequent compliance notices despite a strong track record of compliance, and lack of coordination between federal and provincial tax authorities.
The OICCI emphasized the need to support export oriented industries as a driver of medium-term economic growth. It suggested that targeted policy support, along with flexibility within ongoing IMF programme frameworks, could help maintain competitiveness in global markets.
The chamber expressed optimism that these measures would contribute to a more balanced and predictable tax system, strengthen compliance, attract investment, and support Pakistan’s transition toward sustainable, export led growth. The meeting formed part of the Ministry of Finance’s ongoing budget consultations with business leaders and industry stakeholders ahead of the upcoming fiscal year.

Islamabad | ReNews Pakistan
The federal government has announced a planned 2.25 hour daily loadshedding during peak hours as part of a “peak relief strategy” aimed at preventing a sharp increase in electricity tariffs.
According to the Power Division, distribution companies (DISCOs) have been directed to share feeder-specific schedules to ensure transparency and help consumers manage outages more effectively.
Officials said the move comes in response to rising global fuel prices, which have put pressure on electricity generation costs. Despite these challenges, the government claims to have provided cumulative relief of Rs46 billion to consumers.
The spokesperson added that ongoing power sector reforms, strict implementation of the merit order, and improved grid management have helped reduce costs. Between July and February, electricity prices reportedly decreased by an average of 71 paisas per unit due to increased reliance on cheaper energy sources and efforts to minimize transmission and administrative losses.

Islamabad | ReNews Pakistan
Saudi Arabia is expected to invest around $10 billion in the establishment of an oil refinery in Gwadar, marking a significant development for Pakistan’s energy sector.
According to sources, the proposed refinery is likely to have a production capacity of up to 400,000 barrels per day. Pakistani companies are expected to hold a 40 to 45 percent stake in the project, reflecting a strong local partnership component.
Sources further revealed that Saudi Arabia’s leading oil company, Saudi Aramco, is planning to set up the refinery in collaboration with Pakistani partners. To make the project more attractive for investors, a proposal to grant a 20-year tax exemption is also under consideration.
The Pakistani companies likely to be part of the project include Pakistan State Oil (PSO), Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), and Government Holdings (Private) Limited (GHPL).
Experts believe that the establishment of such a large-scale refinery in Gwadar will not only help meet the country’s growing energy demands but also boost exports, create employment opportunities, and stimulate economic activity in the region.

Islamabad | ReNews Pakistan
Prime Minister Shehbaz Sharif has directed a comprehensive digital overhaul of the National Tariff Commission (NTC) as part of broader efforts to modernise Pakistan’s trade system and enhance protection for domestic industries.
The directive was issued during a high level meeting reviewing ongoing reforms at the commission, which plays a key role in investigating unfair trade practices and recommending protective duties. Officials briefed the prime minister on legal, administrative, and financial measures currently being implemented under a government-approved reform roadmap.
Emphasising the importance of an efficient and restructured commission, the prime minister stated that strengthening the NTC is essential for promoting industrial growth and sustaining investor confidence. He called for the integration of advanced information technology and artificial intelligence to improve decision-making and operational performance.
Shehbaz Sharif also instructed authorities to align the commission’s procedures with international best practices and ensure swift resolution of cases, warning that delays would not be tolerated.
He added that a revamped NTC should not only safeguard local manufacturers but also facilitate businesses by ensuring a fair and competitive market environment, ultimately contributing to the country’s overall economic growth.

Lahore | ReNews Pakistan
Punjab Chief Minister Maryam Nawaz met with a delegation from leading Chinese companies, including Kunlun Group and Sundar Green Group, to discuss industrial cooperation and investment opportunities.
During the meeting, both sides agreed to jointly establish a solar panel manufacturing facility in Lahore through a partnership between Sundar Green Group and Kunlun Group. Additionally, Kunlun Group agreed to provide advanced vocational and industrial training in China to 50,000 Pakistani students.
A briefing informed that, in principle, approval has also been granted for the development of a 1,000 acre industrial estate in Lahore under mutual collaboration. The meeting also reviewed the potential transfer of technology for producing petrochemical products from coal in Punjab.
Chief Minister Maryam Nawaz assured full support and facilitation to both Chinese and local investors, stating that the government believes in supporting businessmen rather than running businesses itself. She added that reforms have been a key focus over the past two years, and Punjab has now become one of the most attractive provinces for investment.
She further noted that Pakistan has a vast solar energy market, and the shift toward solar power is accelerating due to the ongoing energy crisis. According to the briefing, the project is expected to create around 18,000 job opportunities in Punjab.
The delegation included CEO of Inner Mongolia Coal Mine Wang Jin Hanan Sheng, Investment Company CEO Zhao Gangbo, Sundar Green Group Chairman Muhammad Abid, CEO Azeem Iftikhar, Director Rana Faisal Hayat, and OSS CEO Danish Ahmad.

Islamabad | ReNews Pakistan
Agritech Limited has temporarily shut down its urea plant after the suspension of gas supply by Sui Northern Gas Pipeline Limited (SNGPL), the company confirmed in a notification submitted to the Pakistan Stock Exchange (PSX) on Monday.
According to the notice, SNGPL declared force majeure after its gas pipeline was damaged due to flash floods in the Baka Khel area, disrupting the supply of gas to the plant. The company stated that the suspension has directly impacted its production operations.
Agritech noted that the plant will remain non operational until gas supply is restored. “Gas supply shall be resumed as soon as repair work on the affected pipeline is completed,” the company said, adding that further updates will be shared in due course.
Agritech Limited, formerly known as Pak American Fertilizers Limited, was incorporated in Pakistan in 1959. The company manufactures and markets urea and granulated single super phosphate fertilizers, which are sold under its well known “Tara” brand across the country.

Islamabad | ReNews Pakistan
The President of the Islamabad Chamber of Commerce and Industry (ICCI), Sardar Tahir Mehmood, has said that the upcoming Federal Budget 2026 offers a crucial opportunity for the government to revive the economy, rebuild investor confidence, and put Pakistan on a sustainable growth path.
Speaking at a press conference at the Chamber House on Friday, he said the purpose of the briefing was to present the business community’s proposals and expectations to policymakers so that a more business-friendly, investment-driven and growth-oriented budget could be formulated.
He highlighted that changing global and regional conditions, particularly tensions in the Middle East, have created new investment trends. In this situation, many overseas Pakistanis are considering alternative destinations for investment. He urged the government to take advantage of this situation by offering incentives such as tax rebates and tax holidays to attract overseas Pakistani investors.
Sardar Tahir Mehmood appreciated certain government measures aimed at providing relief to the public, including subsidies for motorcyclists, but expressed concern over the sharp increase in petroleum prices. He said higher fuel costs have placed an additional burden on citizens, increased the cost of doing business, and are contributing to inflation across the economy. He called for urgent steps to reduce energy costs and support industry.
He emphasized that the real estate and construction sectors play a key role in the national economy, as they are linked with multiple industries including cement, steel, electrical goods, and transport, while also generating large-scale employment. He stressed the need for a transparent, simple, and investor-friendly policy framework to revive growth in this sector.
He further noted that the Prime Minister has indicated a forthcoming package for the construction sector, and the business community expects it to be comprehensive and inclusive. According to him, such measures could help attract investment, particularly from GCC countries, which have shown strong interest in Pakistan’s market.
The ICCI President also proposed establishing special economic zones for overseas Pakistanis, promoting tourism through incentives and public-private partnerships, improving facilitation for IT exports and startups, and utilizing Pakistan’s mineral resources through investor-friendly policies.
He suggested introducing a one-window operation system for overseas investors to simplify procedures and reduce bureaucratic hurdles. He stressed that policy consistency, a simplified tax system, and business-friendly regulations are essential for restoring investor confidence.
Sardar Tahir Mehmood further said that key economic decisions should be made in consultation with chambers of commerce and business representatives rather than through unilateral policymaking, arguing that such collaboration would result in more practical and effective policies.
Reaffirming ICCI’s commitment, he said the chamber would continue working with the government and stakeholders to promote investment, economic stability, and business growth. He expressed hope that incorporating business community proposals into Budget 2026 would help strengthen the economy and position Pakistan more competitively in the region.
Several former ICCI presidents, executive members, and senior chamber representatives were also present at the event.

Islamabad | ReNews Pakistan
Pakistan and Chinese companies are moving forward with plans to expand bilateral investment under an existing memorandum of understanding (MoU), with a major focus on developing a 2,800-acre industrial and commercial project in Nooriabad..
The progress was reviewed during a high-level meeting chaired by Federal Minister for Board of Investment Qaiser Ahmed Sheikh, who met with a delegation representing Kunlun Group and Oasis Group.
The delegation included Kunlun Group Chairman Xiong Xianglong and Executive Chen Meifen, along with Oasis Group Director Danish Ahmed and Executive Director Ahsan Jabbar.
During the meeting, Oasis Group presented updates on its ongoing and planned ventures, including resort, residential, commercial and industrial projects. Among these, the Oasis Sino Pak Global Village in Nooriabad was highlighted as a flagship initiative aimed at boosting industrial activity and attracting foreign investment.
Officials noted that Kunlun Group and Oasis Group had originally signed the MoU during a business-to-business conference in September 2025. Both sides reiterated their commitment to expanding cooperation into key sectors such as agriculture, energy and infrastructure.
The minister emphasized the government’s focus on facilitating foreign investors and improving the ease of doing business, particularly for Chinese enterprises. He reaffirmed Pakistan’s economic potential and assured full support for investors, while also briefing the delegation on opportunities available in Special Economic Zones across the country.

Lahore | ReNews Pakistan
The Competition Commission has taken action against two frozen dessert manufacturers in a misleading “ice cream” case, imposing a fine of Rs35 million for deceiving consumers.
In its ruling, the commission, citing the Pakistan Standards and Quality Control Authority and the Punjab Food Regulations 2018, clarified that “ice cream” and “frozen dessert” are two distinct products. Ice cream is made from milk, cream, or other dairy ingredients, whereas frozen desserts may contain vegetable oil. Therefore, presenting frozen desserts as ice cream is considered misleading.
The Competition Commission of Pakistan (CCP) had directed the companies to stop marketing frozen desserts as ice cream, withdraw all misleading advertisements, and provide clear and accurate information about their products.

Islamabad | Renews Pakistan
The Directorate General of Customs Valuation in Karachi has revised the customs values of LED bulbs and LED tube lights, along with multiple categories of related components imported from China.
According to officials, the revised valuation covers seven types of LED bulb parts and six categories of LED light components. The changes have been formalized through two separate valuation rulings issued on Wednesday.
As per Valuation Ruling No. 2055 of 2026, the revision was initiated after importers submitted representations, requesting an update in line with prevailing international price trends. In response, customs authorities conducted a detailed analysis of import data, including declared and assessed values, as well as current market prices.
The new customs values have been determined under Section 25A of the Customs Act, 1969, with the aim of ensuring transparency and alignment with global pricing standards in the import of LED products.

Islamabad | ReNews Pakistan
Renowned banker Syed Muhammad Talib Rizvi has been appointed as the Managing Director and Chief Executive Officer of House Building Finance Company Limited (HBFC). The company’s Board of Directors has formally approved his appointment.
Syed Talib Rizvi brings over 28 years of extensive experience in the banking and financial sector, including strategic leadership, commercial banking, digital finance, fintech, public policy, and regulatory affairs.
He has received higher education, diplomas, and professional certifications from globally renowned institutions such as Stanford University, the World Bank, the World Economic Forum, and other international organizations.
Throughout his career, he has served in senior leadership roles, including CEO, Group Executive, and Group Head, at major financial institutions such as Bank Alfalah, Habib Metropolitan Bank, Dubai Islamic Bank, and Faysal Bank.
Syed Talib Rizvi is widely recognized for his expertise in institutional transformation, strengthening governance frameworks, and promoting financial inclusion through innovation and strategic partnerships. Under his leadership, various institutions have achieved significant growth and improved business performance.
Experts believe that his appointment will further enhance the performance of HBFC and bring innovation to Pakistan’s housing finance sector.

Lahore | ReNews Pakistan
The Punjab government has decided to introduce a new long term lease policy for industrial land as part of broader efforts to accelerate industrial activity and restore investor confidence across the province. Official sources said the policy is intended to provide long term security to industrialists while placing new and existing industrial projects on sustainable and predictable foundations.
Under the proposed framework, industrial units will be granted land on lease for a period of 30 years or more. The lease will be linked to performance, meaning its continuation will depend on production activity, investment levels, and the operational performance of the industrial unit. The policy will apply not only to Special Economic Zones but also to all industrial estates throughout Punjab. Officials said a formal announcement is expected before the start of Ramadan.
Alongside the lease policy, the government is also working on administrative reforms and greater use of technology within the industrial sector. Secretary Industries Muhammad Umar Masood said significant changes are being introduced to improve ease of doing business for industrialists. He said a technology based one window system is being developed to ensure compliance with environmental regulations, with the aim of simplifying approvals and improving transparency in monitoring and enforcement.
Officials said the reforms are designed to reduce human intervention by limiting unnecessary inspections and repeated administrative interference. At the same time, the government is placing increased emphasis on public private partnership models to support industrial development by making better use of private sector expertise and investment capacity.
Representatives of the industrial sector have also highlighted the pressures currently facing businesses. The Lahore Chamber of Commerce and Industry said the sector is under strain due to high electricity costs, elevated interest rates, and a heavy tax burden. According to the chamber, the proposed lease policy and administrative reforms could help stabilise industrial activity and contribute to rebuilding investor confidence.
Government officials have described the initiative as an important step towards improved use of industrial land, stronger protection of investment, and more coherent long term industrial planning in Punjab. They said effective implementation of the policy could support industrial expansion, create employment opportunities, and generate wider economic activity across the province.

Karachi | ReNews Pakistan Ghani Dairies Limited, a leading corporate dairy farm in Pakistan, has announced plans to raise approximately Rs 2.5 billion through an Initial Public Offering (IPO) to finance expansion of its farming operations and infrastructure on its existing property in Khushab. This IPO marks one of the first major public listings for a corporate dairy farm in Pakistan. Under the offering, Ghani Dairies will issue 104.2 million new ordinary shares, representing 24.28 percent of post-IPO paid-up capital. The proceeds will be primarily utilised to expand the herd, upgrade milking and storage facilities, and enhance on-farm infrastructure to boost production capacity, while strengthening working capital. The company operates a fully automated corporate dairy farm and supplies milk to major processors in Pakistan. The planned expansion under the IPO will occur entirely on its existing land, including construction of additional milking parlours, storage facilities, and feed management systems, without acquiring new farmland. The IPO is scheduled with book building on 2–3 February 2026 and public subscription on 9–10 February 2026, following approval by the Securities and Exchange Commission of Pakistan and the Pakistan Stock Exchange. This offering provides investors an opportunity to participate in a technology-driven agribusiness with a strong land and property-based infrastructure.