Pakistan

Karachi, May 21, 2026: In a landmark achievement for Pakistan’s energy and petroleum sector, Sitara Petroleum Service Limited has successfully completed its Initial Public Offering (IPO), receiving an overwhelming response from investors during both the book building and public subscription phases. The IPO witnessed the highest ever participation in Pakistan’s IPO history with approximately 25,000 applications received across the Book Building and Retail segments. The transaction raised PKR 4.8 billion, making it one of the largest private sector IPO in Pakistan’s history. The Book Building portion, comprising 126,000,000 ordinary shares, was fully subscribed within just 8 minutes and was oversubscribed by 7 times, while the Retail portion comprising 42,000,000 ordinary shares was oversubscribed by 3.4 times with approximately 24,000 applications received from investors nationwide. This overwhelming response highlights the growing strength, depth, and investor participation in Pakistan’s equity capital market. The overall transaction comprised a total offering of 279,914,000 ordinary shares through Pre-IPO and IPO, representing 16.66% of the company’s post-IPO paid-up capital. The Pre-IPO component consisted of 111,914,000 ordinary shares representing 6.66% of the post-IPO paid-up capital and successfully raised PKR 1.66 billion at PKR 14.85 per share. The IPO component consisted of 168,000,000 ordinary shares representing 10.00% of the post-IPO paid-up capital. The floor price for the IPO was set at PKR 13.50 per share. Following strong investor participation during the Book Building process, the strike price was successfully discovered at PKR 18.90 per share hitting the upper price band. Consequently, the IPO transaction size stood at PKR 3.17 billion at the strike price, compared to PKR 2.27 billion at the floor price. The offering attracted participation from a broad spectrum of investors, including institutional investors, corporate entities, high-net-worth individuals, and retail investors, demonstrating widespread confidence in the company’s future outlook. Arif Habib Limited and Integrated Equities Limited acted as the Joint Lead Managers to the Issue and played a pivotal role in successfully executing the IPO process. At the listing ceremony, Mr. Farrukh H. Sabzwari, Managing Director & CEO of PSX stated: “It is very heartening to see that despite global challenges, Pakistan’s capital markets have remained resilient and the IPO momentum continues. This success is a testament to the tireless efforts of the regulators, particularly SECP, in streamlining the IPO process, and to the collaboration of institutions such as CDC and NCCPL. The investor community has shown remarkable confidence, with approximately 25,000 applications and serious institutional capital participating in this landmark transaction. Retail investor numbers have now reached 545,000, driven by education & awareness initiatives targeting Gen Z and millennials, which is a very encouraging trend for the future of our markets. As I emphasized at the recent IPO Roundtable in Gujranwala, it takes years of hard work, unwavering commitment, and flawless execution to bring a company to the point where it is ready to list on a national exchange — and Sitara Petroleum Service Limited is a shining example of exactly that journey. I congratulate the company, its sponsors, and all stakeholders on this momentous achievement, and look forward to even larger transactions in the future.” Commenting on this milestone achievement, Mr. Zaheer Baig, Chief Executive Officer of Sitara Petroleum Service Limited stated: “Today marks a proud and historic milestone for Sitara Petroleum Service Limited as we formally join the Pakistan Stock Exchange family. The successful completion of our IPO reflects the confidence of investors in our business model, our growth strategy, and our long-term commitment to Pakistan’s energy and logistics sector. This listing is not just a capital market transaction; it is the beginning of a new phase of institutional growth, transparency, and value creation for all stakeholders. The proceeds from the IPO will help us accelerate our expansion plans, strengthen our retail fuel station network, enhance logistics and fleet operations, and further improve service delivery across the country. We are grateful to our investors, regulators, advisors, the Pakistan Stock Exchange, Arif Habib Limited, Integrated Equities Limited and all partners who supported us throughout this journey. We also thank our employees, customers, dealers, and business partners whose trust and dedication have enabled Sitara Petroleum to reach this important stage. As a listed company, we remain fully committed to strong governance, sustainable growth, and delivering long-term value to our shareholders while contributing positively to Pakistan’s economy.” Mr. Shahid Ali Habib, Chief Executive Officer of Arif Habib Limited, commented on the successful IPO, stating: We are proud to have successfully concluded the IPO of Sitara Petroleum Service Limited, which has emerged as one of the most successful and widely participated IPOs in Pakistan’s capital market. The IPO set several important milestones, including one of the highest ever participation in Pakistan’s IPO history with approximately 25,000 applications, raising approximately PKR 4.8 billion as the third largest private sector IPO in Pakistan, and achieving full subscription of the Book Building portion within just 8 minutes with an oversubscription of 7 times. The Retail portion also witnessed an overwhelming response with 3.4 times oversubscription and approximately 24,000 applications received from investors nationwide. The exceptional participation from institutional and retail investors reflects growing investor confidence in Pakistan’s equity markets and Sitara Petroleum Service Limited’s long-term growth potential. We thank all investors and stakeholders for their trust and confidence in this landmark transaction.

Karachi, May 21, 2025: Pakistan’s leading digital microfinance bank, Mobilink Bank, has partnered with Legal Aid Society under its Corporate Social Responsibility (CSR) initiatives to help women secure their inheritance rights through legal assistance, community outreach, and awareness-building efforts. The initiative builds on Mobilink Bank’s flagship inheritance rights campaign, The Invisible Heirs, which aims to raise awareness around the systemic challenges women face, and help them know & claim their rightful inheritance. Through this strategic collaboration, Mobilink Bank will financially support legal cases for women, including climate-affected inheritance disputes resulting from displacement, loss of documentation, and disaster-related exclusion, alongside non-climate cases involving denial or coerced relinquishment of inheritance rights. The initiative will provide case assessment, legal documentation support, court representation, and follow-up assistance until resolution. Commenting on the initiative, Haaris Mahmood Chaudhary, President and CEO of Mobilink Bank⁠ said: “True financial empowerment requires a holistic ecosystem that goes beyond access to banking. It begins with ensuring women have access to their rightful assets, opportunities, and financial agency. Through our partnership with Legal Aid Society, we aim to help women secure what is rightfully theirs and support their journey towards greater economic resilience and long-term empowerment.” Barrister Haya Emaan Zahid, CEO of Legal Aid Society, stated, “Access to justice is inseparable from economic empowerment. For many women, inheritance is not merely a legal entitlement; it is a pathway to dignity, security, and independence. We are grateful to Mobilink Bank for supporting this important initiative and helping expand access to justice for women who are often excluded from both legal and financial systems.” Mobilink Bank’s commitment to inheritance rights also extends to digital empowerment through innovative financial tools. As part of its inheritance campaign, The Bank introduced Pakistan’s first in-app inheritance calculator on its Dost App, enabling users, particularly women, to better understand and estimate their rightful inheritance shares through a simple, transparent, and Shariah-compliant process. By combining technology-driven financial awareness with legal aid and community engagement, Mobilink Bank is working to address systemic barriers that prevent women from accessing their lawful economic rights and achieving long-term financial resilience. Legal Aid Society also brings over a decade of experience in advancing access to justice, particularly for women and underserved communities across Pakistan. The organisation has reached more than 87 million people through legal awareness initiatives, responded to over 550,000 legal queries, and represented more than 3,000 cases. Through a model that combines legal representation, community literacy, mediation, and policy advocacy, LAS continues to work towards making justice more accessible, inclusive, and impactful for all.As part of the initiative, awareness and legal literacy sessions will also be conducted to educate communities about women’s inheritance rights, access to justice, and the importance of financial empowerment. The collaboration further strengthens Mobilink Bank’s broader social impact agenda and reinforces its commitment to building a more inclusive and resilient Pakistan where women have equitable access to rights, resources, and opportunities.

KARACHI: Sindh Minister for Industries Jam Ikramullah Khan Dharejo has vowed full government support for Karachi’s industrial community, acknowledging the role of the private sector in times of crisis and outlining a roadmap for structural and financial reforms across the city’s key industrial zones. Expressing his gratitude to Patron-in-Chief of S.I.T.E. Association Zubair Motiwala and SAI Patron Saleem Parekh at the Meet & Greet Dinner hosted by S.I.T.E. Association of Industry, the Minister commended the duo for the timely assistance they extended to the Sindh Government in the aftermath of two devastating incidents — the fires that gutted Gul Plaza and other similar incidents like Saddar Cooperative Market, Jubilee market & Bolton Market — which inflicted heavy losses on the trading and business community of the city. The distinguished guests included Patron-in-Chief of S.I.T.E. Association Zubair Motiwala, SAI Patron Saleem Parekh, Former President of KCCI & SAI Jawed Bilwani, KCCI President Rehan Hanif along with office bearers & senior leaders from KCCI and leaders of FPCCI, patrons & office bearers of different industrial associations, former presidents Tariq Yousuf, Younus Bashir, Majyd Aziz, Nazim F. Haji, Arshad Tanveer, Dr. Arshad Vohra, Engr. M. A. Jabbar, Junaid Makda, Suleman Chawla, Abdul Hadi, Abdul Rasheed, Riaz Uddin, Muhammad Kamran Arbi, and Ahmed Azeem Alvi, COO KWSC Asadullah Khan , MD SSGC Muhammad Amin Rajput, Asmer Naeem, and Nasim Jani Shaikh from K-Electric, Secretary of S.I.T.E. Limited Muhammad Younis Daheri, and Executive Committee members, who graced the occasion with their presence. The Industries Minister announced that a follow-up meeting would be convened specifically to deliberate on the long-pending proposal for the separation of the Sindh Industrial & Trading Estate (S.I.T.E.), Karachi. The move is being seen as part of a broader effort by the provincial government to introduce administrative and structural reforms in one of the country’s most vital industrial corridors. On the critical issue of infrastructure development funding, Dharejo stated that the government was keen to bring the private sector on board to the maximum possible extent, rather than depending entirely on provincial allocations. He made clear, however, that fresh funds would only be released to the District Municipal Corporations and concerned trade associations once existing disbursements had been fully utilized within the designated timeframe — a measure, he said, designed to ensure accountability and results-driven spending. Patron-in-Chief Zubair Motiwala, speaking on this occasion, invited the Govt. of Sindh to join hands with the business community in bringing overall improvement in government working including S.I.T.E. Limited as well as to increase exports and industrial production. He reiterated the demand to separate S.I.T.E. Karachi from the ambit of S.I.T.E. Limited and hand it over to S.I.T.E. Association of Industry to run the department in a professional manner, hiring qualified & professional staff including CEO and other top officials on merit. He said that S.I.T.E. Limited should pay attention on the issues of other industrial zones which are also suffering from lack of infrastructure and other facilities. He stressed the need to make every effort to keep the wheels of industry running in current difficult times when utilities charges are the highest in the region. SAI Patron Saleem Parekh, in his brief note, expressed gratitude to the distinguished guests for attending the event at short notice. He highlighted the importance of holding interactive meetings on a regular basis and extended special thanks to the Sindh Minister for Industries for releasing funds to industrial town associations for infrastructure development in their respective zones. Earlier, the Acting President of the Association Ahmed Zulfiqar Chaudhry welcomed the distinguished guests to the Meet & Greet Dinner and thanked the members for their presence stating that it greatly added to the warmth and spirit of the evening. SAI VP Tahir Goreja delivered the vote of thanks and concluded the event with the resolve to make the country economically stronger by boosting its exports, earning more foreign exchange, and providing employment to the people. The house paid tributes to the selfless & devoted services being rendered by the armed forces of Pakistan for maintaining peace & tranquility in the country as well as for strong reply given against Indian aggression last year which has boosted morale of the nation. The house noted that Pakistani passport’s ranking has also increased worldwide. The house also paid tributes to the leader of business community (Late) Siraj Kassam Teli and his selfless services for the cause of business community were remembered. As a gesture of goodwill, Association’s Shields were presented to representatives of industrial town associations and civic agencies.

Karachi: The Consumers Association of Pakistan (CAP) has called for the introduction of strict property and building laws similar to those in Dubai to protect homebuyers from delays, non-delivery of properties, and illegal booking practices by builders. Read More: https://theboardroompk.com/state-bank-of-pakistan-sbp-to-issue-rs75-commemorative-coin-to-mark-75th-anniversary-of-the-establishment-of-diplomatic-relations-between-pakistan-and-china/ The Chairman of the Consumers Association of Pakistan, Mr. Kaukab Iqbal, along with Vice Chairman CAP Muhammad Kamal Mughal, met with Mr. Muzamil Hussain, Director General of the Sindh Building Control Authority, at his office to discuss consumers’ grievances regarding builders and real estate projects in Karachi. During the meeting, Mr. Kaukab Iqbal highlighted the growing concerns of consumers regarding delayed housing projects, non-delivery of properties on time, and illegal booking practices by certain builders. He emphasized that in the history of Karachi, many projects remain incomplete, causing serious financial and mental distress to consumers. Mr. Kaukab Iqbal advised the DG SBCA that the Government should introduce strict property and building laws similar to those implemented in Dubai in order to regulate the real estate sector effectively and ensure the protection of consumers’ rights. He also identified that some builders are taking bookings from the public without having proper ownership or legal possession of land. Mr. Kaukab Iqbal urged SBCA to take immediate and strict action against such builders to safeguard the interests of innocent consumers. During the meeting, Mr. Kaukab Iqbal informed the DG SBCA that CAP has constituted a “Consumers Protection Committee on Housing & Real Estate,” which will work under the Chairmanship of Vice Chairman CAP Muhammad Kamal Mughal to address complaints and issues faced by consumers in the housing and real estate sector. It was further announced that Mr. Muhammad Kamal Mughal has been nominated as the Chairman of the Consumers Protection Committee on Housing & Real Estate. The committee will work to address consumer grievances and ensure protection of rights in the housing and real estate sector. The committee members are: DG SBCA Mr. Muzamil Hussain appreciated the efforts and public interest initiatives of the Consumers Association of Pakistan and assured full support and cooperation with CAP for the protection of consumers and improvement of the real estate sector in the public interest.

Karachi, 20 May 2026 – Hutchison Ports Pakistan has reinforced its operational excellence by successfully processing a complex multi-vessel operation, handling four mainline vessels and one feeder vessel simultaneously. Read More: https://theboardroompk.com/ptcl-ufone-achieve-pci-dss-v4-0-1-certification-strengthening-secure-payment-card-data-handling/ A total of 10,301 TEUs were efficiently handled during the operation, minimizing vessel turnaround times and maintaining strict service reliability. The vessels have since moved across critical trade lanes, with next destinations extending to Sohar (Middle East), Colombo (South Asia), and Singapore and Malaysia (Southeast Asia), further integrating Pakistan into global maritime trade routes. Commenting on the achievement, CS Kim, CEO of Hutchison Ports Pakistan, stated, “This successful operation reflects our team’s planning discipline and operational resilience. Managing this volume simultaneously demonstrates our capacity strength and our commitment to ensuring seamless service for our shipping line partners.” Hutchison Ports Pakistan continues to invest in infrastructure and workforce capability to support growing trade volumes, reinforcing its position as a reliable, high-performance gateway in the region’s maritime logistics network.

Islamabad, May 20, 2025: Pakistan’s leading digital microfinance bank, Mobilink Bank, has partnered with Legal Aid Society under its Corporate Social Responsibility (CSR) initiatives to help women secure their inheritance rights through legal assistance, community outreach, and awareness-building efforts. The initiative builds on Mobilink Bank’s flagship inheritance rights campaign, The Invisible Heirs, which aims to raise awareness around the systemic challenges women face, and help them know & claim their rightful inheritance. Through this strategic collaboration, Mobilink Bank will financially support legal cases for women, including climate-affected inheritance disputes resulting from displacement, loss of documentation, and disaster-related exclusion, alongside non-climate cases involving denial or coerced relinquishment of inheritance rights. The initiative will provide case assessment, legal documentation support, court representation, and follow-up assistance until resolution. Commenting on the initiative, Haaris Mahmood Chaudhary, President and CEO of Mobilink Bank⁠ said: “True financial empowerment requires a holistic ecosystem that goes beyond access to banking. It begins with ensuring women have access to their rightful assets, opportunities, and financial agency. Through our partnership with Legal Aid Society, we aim to help women secure what is rightfully theirs and support their journey towards greater economic resilience and long-term empowerment.” Barrister Haya Emaan Zahid, CEO of Legal Aid Society, stated, “Access to justice is inseparable from economic empowerment. For many women, inheritance is not merely a legal entitlement; it is a pathway to dignity, security, and independence. We are grateful to Mobilink Bank for supporting this important initiative and helping expand access to justice for women who are often excluded from both legal and financial systems.” Mobilink Bank’s commitment to inheritance rights also extends to digital empowerment through innovative financial tools. As part of its inheritance campaign, The Bank introduced Pakistan’s first in-app inheritance calculator on its Dost App, enabling users, particularly women, to better understand and estimate their rightful inheritance shares through a simple, transparent, and Shariah-compliant process. By combining technology-driven financial awareness with legal aid and community engagement, Mobilink Bank is working to address systemic barriers that prevent women from accessing their lawful economic rights and achieving long-term financial resilience. Legal Aid Society also brings over a decade of experience in advancing access to justice, particularly for women and underserved communities across Pakistan. The organisation has reached more than 87 million people through legal awareness initiatives, responded to over 550,000 legal queries, and represented more than 3,000 cases. Through a model that combines legal representation, community literacy, mediation, and policy advocacy, LAS continues to work towards making justice more accessible, inclusive, and impactful for all. As part of the initiative, awareness and legal literacy sessions will also be conducted to educate communities about women’s inheritance rights, access to justice, and the importance of financial empowerment. The collaboration further strengthens Mobilink Bank’s broader social impact agenda and reinforces its commitment to building a more inclusive and resilient Pakistan where women have equitable access to rights, resources, and opportunities.