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  • Dutch company to acquire Engro Foods Ltd

    KARACHI: A Dutch dairy cooperative is set to buy out food giant Engro Foods Limited with an investment of around $460million, in what would amount to the largest private sector takeover by a foreign firm in the country's history...

    FrieslandCampina International Holding BV intends to acquire a 51 per cent stake of Engro Foods Limited, one of the largest listed companies at the Pakistan Stock Exchange (PSX), a notification on the bourse's...
  • AGP Ltd raises Rs2.8 billion

    KARACHI: AGP Ltd, a pharmaceutical company in the fold of OBS Group, has raised Rs2...

    At the gong-ringing ceremony at the PSX on Monday that signalled the start of trading of company’s stock, AGP Ltd share price quickly hit the upper circuit of 5 per cent to take the stock price to Rs84, from the offered price of Rs80 a share...

  • Mismanagement at FCS slammed

    KARACHI: The government audit of the Fishermen Cooperatives Society (FCS) has not been carried out for over seven to eight years owing to non-production of records by the management, said Sindh Law and Parliamentary Affairs Minister Dr Sikander Mandhro...

    Answering a question by Pakistan Muslim League-Nawaz legislator Shafi Jamote regarding the audit of FCS accounts, the minister said that the FCS management had not been maintaining...

  • Rangers detain three FCS officials for 90 days

    KARACHI: The Pakistan Rangers, Sindh informed an antiterrorism court on Saturday about the 90-day preventive detention of three officials of the Fishermen Cooperative Society (FCS) for questioning...

    The paramilitary force also arrested FCS vice-chairman Sultan Qamar Siddiqui a couple of days ago within the jurisdiction of the Sharea Faisal police station on similar allegations and put him under 90-day preventive dentition at the...

  • CS told to resolve FCS, KFHA issues

    KARACHI: Sindh Chief Minister Syed Qaim Ali Shah has directed the chief secretary to act as arbitrator to resolve a dispute between Fishermen’s Co-operative Society (FCS) and Karachi Fisheries Harbour Authority (KFHA) at the earliest...

    He also directed the secretaries of fisheries, co-operative societies and law departments as well as advocate general to plead government’s point of view in the Sindh High Court for the early disposal...

  • Govt fails to freeze FCS accounts, appoint administrator

    KARACHI: Despite the passage of several weeks to the dissolution of the board of directors of the corruption-ridden Fishermen Cooperative Society (FCS), the Sindh government has yet to appoint an administrator to run its affairs as the two-month ban on fishing has ended but the authorities have not yet frozen its bank accounts — the source that allegedly funds gangs in Lyari as has been alleged by the Sindh Rangers, it emerged on Wednesday......

  • Govt asked to nominate officials for FCS board of directors

    KARACHI: As investigations into the Fisheries Cooperative Society (FCS) affairs are under way, all eyes are set on government response to the FCS situation that has developed following the arrests of society’s key officials by the Rangers, it emerged on Thursday...

    According to sources, officials of the Karachi Fisheries Harbour Authority (KFHA) and the cooperation department with which the FCS is registered, have sent letters to the...

  • Another FCS man ‘held by Rangers’

    Mr Shah said that that Baloch was also the general secretary of the FCS employees union...

    He said they filed an application before the Citizens Police Liaison Committee and considering filing a petition before the Sindh High Court against the illegal detention of the FCS official...

  • FCS crisis may adversely affect EU delegation’s visit

    KARACHI: The mess created by the government at the Fishermen Cooperative Society (FCS) could negatively affect the upcoming visit of the acting EU ambassador to the harbour, it emerged on Sunday...

    The repair, cleanliness and maintenance of the auction halls is the responsibility of the FCS, whose board, the chief minister announced last month, was being dissolved and an instead an administrator being appointed...

  • NAB files corruption reference against FCS officials

    KARACHI: The National Accountability Bureau filed on Wednesday a corruption reference against two former chairmen of the Fishermen Cooperative Society (FCS) and others...

    The then chairman of the FCS, Dr Nisar Ahmed Jan Memon, alias Nisar Morai, former chairman Abdul Saeed Khan, ex-vice chairman Sultan Qamar Siddiqui and 10 other officials and contractors have been accused of misusing their authority, embezzlement of funds, illegal...

  • Nato chief urges US and Turkey to 'sit down and find solutions'

    North Atlantic Treaty Organisation (Nato) chief Jens Stoltenberg on Friday urged the United States and Turkey to “sit down and find solutions” to a crisis in relations between the two key members of the military alliance...

    “I only urge the US and Turkey to sit down and find solutions because it is important for the alliance that we are able to work closely together, especially in that region, because Turkey is a key ally in our fight...

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