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PKR 24.1bn NICL Deal Awaits Approval

Cherat Cement has signed share purchase agreements to acquire a 64.07% stake in Nimir Industrial Chemicals Limited for approximately PKR 24.1 billion, at an agreed price of PKR 340 per share. The proposed acquisition covers a 51% stake held by controlling shareholders and an additional 13.07% from non-controlling shareholders. The deal remains subject to regulatory approval. Cherat Cement will then make a formal public offer to NICL’s remaining shareholders under PSX takeover rules.

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HESCO and SEPCO Boards to Be Reconstituted

The government has approved changes to the boards of three state-owned enterprises: Hyderabad Electric Supply Company, Sukkur Electric Power Company and National Engineering Services Pakistan. The boards of HESCO and SEPCO will be reconstituted, while NESPAK will receive a chairman/independent director. The finance minister said government representatives serving as ex-officio directors should be suitably placed, competent and experienced, with a strong understanding of their institutions. The appointments aim to ensure effective representation of the respective government divisions on the boards.

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PTA Confirms Registration of Two Platforms

The Pakistan Telecommunication Authority has formally registered BIGO LIVE and Likee in Pakistan under Bigo Service Pakistan (Pvt.) Ltd. The registration was made in accordance with the Removal and Blocking of Unlawful Online Content rules.

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Cement Maker Targets Pakistan’s EV Industry

Thatta Cement plans to enter Pakistan’s electric vehicle market through a wholly owned subsidiary. The company will initially import completely built-up electric vehicles from China, aiming to establish an early presence in the country’s developing EV industry. The plan was disclosed in a filing to the Pakistan Stock Exchange.

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