Pakistan News

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  • Foreign firm to invest Rs7bn in ICI Pakistan

    KARACHI: ICI Pakistan Limited (ICI) has received an expression of interest from ‘’an international financial institution’’ to invest Rs7 billion as growth capital into the company through a convertible debt instrument, the company said in a statement...

    ICI also unveiled results for the year ended June 30, 2019 disclosing profit after tax, on consolidated basis for the year at Rs2...

  • ICI acquires pharma facility, brands for Rs1.9bn

    KARACHI: ICI Pakistan Ltd has executed an asset purchase agreement with Wyeth Pakistan Ltd and Pfizer Pakistan Ltd for the acquisition of certain assets at the aggregate purchase price of Rs1...

    ICI stated in a stock notice on Monday that the agreement was signed on May 19 under which the company will acquire a Wyeth-owned pharmaceutical manufacturing facility located on Hawkesbay Road in Karachi along with the following...

  • ICI to set up Morinaga facility in Karachi

    KARACHI: ICI Pakistan Limited, the conglomerate in business of polyester, soda ash, chemicals and life sciences, proposes to set up a Morinaga infant formula manufacturing facility in Karachi at a cost of Rs4...

    The project would be launched as a joint venture with Morinaga Milk Industry Company Limited of Japan and Uribands Private Limited...

  • ICI’s focus on acquisitions

    ICI Pakistan Limited operates under the umbrella of the Yunus Brothers Group, which also owns the country’s largest cement company, Lucky Cement Limited...

    The group acquired three-quarter shares of ICI Pakistan for Rs14...

  • ICI mulls acquiring some of Wyeth’s assets

    KARACHI: ICI Pakistan is considering the potential acquisition of certain assets of Wyeth Pakistan representing the life science business portfolio, a stock notice said on Friday...

    Wyeth said the board had authorised the company to finalise the consideration and other terms of the asset sales transaction, including definitive transaction agreements with ICI Pakistan, which had shown interest in pursuing the transaction...

  • ICI profits up 53pc

    KARACHI: ICI Pakistan Limited unveiled results for the first quarter ended Sept 30, posting an after-tax-profit at Rs836 million, up 53 per cent from the same quarter earlier year...

    The figures were on consolidated basis, including results of the company’s subsidiaries: ICI Pakistan PowerGen Limited, Cirin Pharmaceutical Ltd and NutriCo Morinaga Ltd...

  • BCCI proposes limited-over series with Pakistan in India

    The Board of Control for Cricket in India (BCCI) on Tuesday proposed a limited-over series with Pakistan, comprising five one-day and two Twenty20 internationals, but reiterated that the Indian team would not be travelling to Pakistan or UAE for the matches...

    “We are committed to playing Pakistan in December...

  • Sri Lanka agree to play only three limited-over games in Pakistan

    COLOMBO: Sri Lanka will return to Pakistan after a nearly two-year absence for three short-form cricket games later this year, the sports minister said on Thursday...

    “We are not in a position to send the team to Pakistan to play the two Tests, but we will be in Pakistan for about eight days to play the ODIs or the T20 matches,” Harin Fernando told reporters in Colombo...

  • Pakistan to host Sri Lanka for limited over series

    Pakistan will host Sri Lanka for six limited over internationals starting next month, the two cricket boards said on Friday, another step towards reviving international cricket in Pakistan after years of isolation...

    This will be Sri Lanka's second tour of Pakistan since their team bus was attacked during a Test match in Lahore in March 2009...

  • Pakistan LNG Limited replaces its top manager

    Pakistan LNG Limited (PLL) has replaced its top manager with immediate effect, appointing Shahid Yousaf as managing director and chief executive,The state-owned operator announced the decision on Saturday but didn't give a reason for the change...

    Former chief executive Adnan Gilani, a United States-educated former Wall Street executive who had been the main public face of Pakistan’s push into the liquefied natural gas sector, “will...

  • Pakistan to support Saudi-led military alliance while maintaining close contact with Iran

    Pakistan highlighted its "successful counter-terrorism operations and the comprehensive National Action Plan" during the first meeting of the defence ministers of countries involved in the Islamic Military Counter Terrorism Coalition (IMCTC) held last Sunday, Foreign Office Spokesperson Dr Mohammad Faisal said in his weekly briefing on Thursday...

    Dr Faisal said Pakistan had expressed its willingness to share its intellectual,...

  • Pakistan protests 'deliberate targeting of civilians' in special hotline contact with India

    Pakistan "protested the deliberate" targeting of civilians along the Line of Control (LoC) during the Pakistani and Indian armies' special hotline contact on Monday, the Inter-Services Public Relations (ISPR) said in a statement...

    "Indian troops are deliberately targeting innocent civilians, including children," the Pakistan's director-general of military operations (DGMO) told his Indian counterpart, according to the statement... ...

  • Pakistan-India detente thru’ peoples contact

    LAHORE: A Polish academic has floated the idea of reconciliation through cultural exchange and people-to-people contact between Pakistan and India for lasting peace in the South Asia region...

    “There should be confidence building measures (CBMs) and concrete efforts to pacify hawkish elements on both sides of the border,” said University of Social Sciences and Humanities, Warsaw (Poland) Prof Dr Agnieszka Kuszewska at a seminar on...

  • Pakistan Army, Afghan officials establish hotline contact

    Inter-Services Public Relations said Tuesday that Pakistan Army and the Afghan National Army had spoken over a hotline in the first reported communication between the two ever since tensions over the Pak-Afghan border boiled over earlier this year...

    This longstanding tension had reached a breaking point when Pakistan closed all border crossings on Feb 16 after a string of suicide attacks that killed more than 125...

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