Pakistan

The Hague/Islamabad, June 24, 2026: Federal Minister for Commerce Jam Kamal Khan has appreciated the successful holding of Pakistan Rice Festival 2026 in the Netherlands, stating that such international trade events play an important role in promoting Pakistani exports, expanding access to new markets, and projecting a positive image of Pakistan globally. Read More: https://theboardroompk.com/ogdc-poised-for-strong-recovery-with-baragzai-boost-and-sector-reforms/ The Minister commended the efforts of Pakistan’s Ambassador to the Netherlands, Syed Haider Shah, Trade and Investment Counsellor Muhammad Shafiq Haider Virk, and the Trade Development Authority of Pakistan (TDAP). He said that Pakistani basmati rice has become an important symbol of Pakistan around the world, and its growing international demand is encouraging for the country’s agriculture sector and exporters. Jam Kamal Khan termed the participation of more than 100 importers, retailers, food industry experts, renowned chefs, diplomatic representatives, and business leaders from across Europe as a reflection of growing international confidence in Pakistan. He said that the Government of Pakistan remains committed to increasing agricultural and food exports, promoting investment, and further strengthening global trade linkages. The event was held under the theme, “From Pakistan’s Fields to Europe’s Tables,” with the objective of further introducing Pakistani basmati rice in the European market, strengthening business-to-business connections, and creating new investment opportunities in the agriculture and food sectors. Speaking on the occasion, Pakistan’s Ambassador to the Netherlands, Syed Haider Shah, said that Pakistani basmati rice is being exported to more than 100 countries worldwide. He noted that its distinctive aroma, long grain, and excellent cooking qualities have made it increasingly popular among global consumers, retailers, and culinary experts. He said Pakistan is committed to ensuring quality, sustainability, traceability, and full compliance with international food safety standards in the agriculture and food products sector. Pakistani basmati, he added, is not merely an agricultural product but a distinctive brand protected through Geographical Indication (GI), representing centuries of agricultural heritage and internationally recognized quality. During the event, participants were offered an opportunity to sample different varieties of premium Pakistani basmati rice, particularly Super Kernel Basmati. Traditional as well as modern dishes prepared with Pakistani basmati rice were also presented. The participants were also given a detailed briefing on the Geographical Indication status of basmati rice, quality assurance mechanisms, traceability systems, and compliance with European market requirements. The event also included discussions on opportunities for enhanced agricultural and food-sector cooperation between Pakistan and the Netherlands. The upcoming Food Exhibition 2026, scheduled to be held in Karachi from November 23 to 26, 2026, was highlighted as Pakistan’s next major trade milestone in the food and agriculture sector. To showcase Pakistan’s wider export potential, a special activity titled “Goal for Pakistan” was also organized, highlighting Pakistan’s achievements in the manufacturing of world-class footballs. The Netherlands is among Pakistan’s most important export markets in the European Union. Bilateral trade between Pakistan and the Netherlands has reached approximately US$1.94 billion, while more than 50 Dutch companies are engaged in business activities across different sectors in Pakistan.

Saudi Pak Consultancy Company Limited (PSX: SPCL) has announced that JD Taurus (Private) Limited intends to acquire a 35.06 percent stake in the company under the provisions of the Securities Act, 2015, following a direction issued by the Securities and Exchange Commission of Pakistan (SECP). The proposed acquisition was disclosed through a Public Announcement of Intention (PAI) submitted to the Pakistan Stock Exchange (PSX), with Intermarket Securities Limited acting as the manager to the offer. JD Taurus Plans Share Purchase and Public Offer According to the filing, JD Taurus aims to acquire 15,835,403 shares, representing 35.06 percent of SPCL’s issued and paid-up capital, through a share purchase agreement. In addition, the Karachi-based company plans to launch a public offer to acquire another 14,662,549 shares, equivalent to 32.47 percent of the company’s shareholding. The acquisition process is being carried out in accordance with the Securities Act, 2015, and remains subject to regulatory approvals from the SECP. Stake Currently Held by SAPICO The targeted 35.06 percent stake is presently owned by Saudi Pak Industrial & Agricultural Investment Company Limited (SAPICO). Saudi Pak Consultancy Company, formerly known as Saudi Pak Leasing Company Limited, has a total issued share capital of 45,160,500 shares. Trading in the company’s shares has remained suspended on the Pakistan Stock Exchange since March 22, 2022. JD Taurus Incorporated in 2025 JD Taurus (Private) Limited was incorporated on October 28, 2025, and is based in Karachi. The company is led by Chief Executive and Director Mamoon Ur Rashid Qureishi. The other directors are Muhammad Yaqoob and Zahid Hussain. According to the disclosure, Mamoon Ur Rashid Qureishi and Muhammad Yaqoob each hold a 40 percent stake in JD Taurus, while Zahid Hussain owns the remaining 20 percent. SPCL Financial Performance Shows Improvement Despite the suspension of its shares, Saudi Pak Consultancy Company has recorded a notable financial recovery in recent years. The company’s revenue increased significantly to Rs146 million in 2025, compared with only Rs9 million in 2020. Meanwhile, SPCL reported a profit after tax of Rs44 million in 2025, reversing a loss of Rs53 million recorded five years earlier. Earnings per share stood at Rs0.98 during 2025. Negative Net Worth Persists Although profitability has improved, the company continues to face financial challenges. SPCL reported a negative net worth of Rs399 million, while its total assets amounted to Rs686 million. The company’s financial position indicates that despite the turnaround in earnings, balance sheet pressures remain. Deal Subject to Regulatory Approvals The Public Announcement of Intention remains subject to approvals from the Securities and Exchange Commission of Pakistan. The disclosure noted that the proposed transaction could be withdrawn if the required regulatory clearances are not obtained. If completed, the acquisition would mark a significant ownership change for Saudi Pak Consultancy Company and could pave the way for renewed strategic direction for the company.

ISLAMABAD, JUNE 23, 2026: The Competition Commission of Pakistan (CCP) has approved the proposed acquisition of the entire shareholding of BASF Pakistan (Private) Limited by the UAE-based Kemyion Chemical Solutions Trading FZCO following a Phase-I review conducted under the Competition Act, 2010. Kemyion Chemical Solutions Trading FZCO submitted a pre-merger application to the Commission under Section 11 of the Competition Act, 2010, seeking approval to acquire 100 percent shareholding of BASF Pakistan (Private) Limited from BASF SE, Germany, pursuant to a Share Purchase Agreement dated November 18, 2025. Following a competition assessment, the Commission authorized the transaction under Section 31(1)(d)(i) of the Act. Kemyion Chemical Solutions Trading FZCO is a UAE-based company authorized to trade in acids, alkalis, basic industrial chemicals, construction chemicals, insecticides, petrochemicals, and plastic and nylon raw materials. BASF Pakistan (Private) Limited is engaged in the indenting and merchandising of a wide range of chemical products, including colorants, catalysts, solvents, oxo alcohols, and process chemicals. The seller, BASF SE, is a German multinational chemical company and the parent entity of the BASF Group. During its review, the Commission assessed the likely impact of the transaction on competition in the relevant market. The relevant product market was identified as the trade of chemicals, including specialty and industrial chemicals, while the relevant geographic market was determined to be Pakistan. The Commission observed that the acquiring company is not currently operational in Pakistan and does not generate any revenue or own any assets in the country. Consequently, the transaction would not result in any material change in market concentration. The assessment further found that the combined market share of the merger parties would remain unchanged and insignificant following completion of the transaction. The Commission concluded that the proposed acquisition would neither create barriers to entry nor significantly enhance the market power of the merger parties. It further found no basis to conclude that the transaction would substantially lessen competition or create or strengthen a dominant position in the relevant market.Accordingly, the Commission authorized the transaction under the Competition Act, 2010. The approval reflects CCP’s continued commitment to facilitating investment and efficient market transactions through timely merger reviews while ensuring that competition, market efficiency, and consumer welfare remain protected.

Karachi: Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has apprised that Federation’s Central Standing Committee on Renewable Energy, chaired by Convener Mr. Fawad Jawed, has expressed its grave concern over the intensifying curtailment of wind power plants. Mr. Atif Ikram Sheikh stressed that this grid infrastructural failure is inflicting billions in revenue losses, driving green energy investors toward bankruptcy, and forcing inflation-weary consumers to bear the brunt of expensive imported fuel. FPCCI Chief elaborated that, despite definitive sovereign guarantees that transmission bottlenecks in the Gharo-Jhimpir corridors would be removed, the National Grid Company (NGC) and the Independent System & Market Operator (ISMO) have repeatedly failed to upgrade evacuation infrastructure. Consequently, the national grid is suppressing Pakistan’s cheapest and cleanest source of electricity – available at a mere Rs. 14 per unit – while the country endures debilitating load shedding and bleeds scarce foreign exchange on costly imported RLNG and coal. Mr. Atif Ikram Sheikh said that FPCCI’s Central Standing Committee on Renewable Energy has highlighted a shocking tariff irony: under NEPRA determinations, wind energy generated beyond benchmark capacity drops to an unprecedented under Rs. 1 per kWh. Yet, the system operator chooses to reject this virtually free local power, prioritizing multi-billion dollar thermal imports instead. Furthermore, the Non-Project Missed Volume (NPMV) mechanism recovers only 38% of losses despite 100% plant readiness, creating a recipe for financial liquidation. FPCCI warns that launching the Competitive Trading Bilateral Contract Market (CTBCM) and wheeling auctions over a congested – failing network will further destabilize the grid. The FPCCI urgently demands that the Prime Minister’s Office, Ministry of Energy, and NEPRA intervene to enforce ‘Must-Run’ Status, Ensure Accountability, Redirect Power to grid and Reform NPMV.

Quetta, June 23, 2026 The Trade Development Authority of Pakistan (TDAP), Quetta, organized a seminar under the National Exporters Training Program (NETP) focusing on agriculture/horticulture (olives, almonds, and vegetables) and Livestock Holding. The event brought together exporters, farmers, academia, government departments, development organizations, and researchers to highlight the export potential of Balochistan’s agriculture, horticulture, and livestock sectors. The seminar commenced with a welcome address by Mr. Noor Ali Achakzai, Director TDAP Quetta, who emphasized TDAP’s role in export promotion and the significance of NETP. Mr. Taj Muhammad Barech, Senior Vice President, Quetta Chamber of Small Traders and Small Industry, highlighted the province’s agricultural and livestock potential. Mr. Muhammad Abbas Khan, Assistant Manager PHDEC Quetta, presented an overview of horticulture export potential and key value chain challenges and export non-compliances and way forward. A comprehensive session on National Exporters Training Programme, four modules, were delivered by Muhammad Idrees, Assistant Director, Focal person for NETP and Mr. Muhammad Sharif, Executive Officer TDAP Quetta, covering export procedures, documentation, financing, payment terms, and marketing strategies. Mr. Rizwan, Deputy Manager, Pakistan Single Window (PSW) also participated in the session, and delivered a comprehensive presentation on the role of PSW in making the export processes and procedures seamless and efficient for exporters. During the interactive session, participants identified key challenges including lack of slaughterhouses, inadequate cold chain infrastructure, absence of corporate farming, and gaps in real-time agricultural data. Strong export demand for apples, chillies and other horticultural products from Balochistan was also noted. The session recommended establishment of olive processing plants (up to 2000 kg/hr capacity), formation of a multi-stakeholder working committee, and organization of national and international exhibitions to promote exports. The seminar concluded with remarks by Mr. Attaullah Mengal, Vice President, Quetta Chamber of Small Traders and Small Industry. Active participation from all stakeholders was observed, and it was agreed that coordinated efforts are essential to strengthen Balochistan’s export potential.