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  • 10 banks sign pact to create Pakistan Corporate Restructuring Company Ltd

    KARACHI: The country’s 10 banks signed an agreement on Friday to establish Pakistan Corporate Restructuring Company Ltd (PCRCL)...

    The shareholder agreement was signed by presidents and representatives from Habib Bank, National Bank of Pakistan, United Bank, MCB Bank, Allied Bank, Meezan Bank, Bank Alfalah, Bank Al-Habib, Habib Metropolitan Bank and Faysal Bank at the State Bank of Pakistan (SBP) headquarters...

  • Dutch company to acquire Engro Foods Ltd

    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 website said Thursday...

    Citibank Pakistan is the financial advisor...

  • 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...

  • Concern over flouting ban on setting up sugar mills

    BAHAWALPUR: Local cotton growers have expressed concern over the alleged permission given to some businessmen by the Punjab government to set up sugar mills in Channigoth area despite a ban, warning that it would affect economy in the “cotton belt”...

    Dawn has learnt that recently, with the permission of Punjab government, some influential businessmen have acquired more than 50 acres of land near Channigoth near...

  • Ittefaq sugar mills files appeal against LHC verdict on Bahawalpur plant

    ISLAMABAD: The Ittefaq Sugar Mills Limited, believed to be owned by the Sharifs, has approached the Supreme Court to assail the Sept 11 Lahore High Court order of dismantling the sugar plant from the relocated area of Bahawalpur within three months...

    The entity had relocated its sugar mills from Pakpattan district to Bahawalpur district for commencing crushing at the new site for the 2015 season when a ban was already in place on...

  • Relocation of Sharif family's sugar mills to south Punjab is illegal: LHC

    The Lahore High Court (LHC) on Monday declared the relocation of Ittefaq Sugar Mills, Haseeb Waqas Sugar Mills and Chaudhry Sugar Mills — all owned by members of the Sharif family — to southern Punjab as illegal, DawnNews reported...

    Headed by Chief Justice Syed Mansoor Ali Shah, the division bench was hearing intra-court appeals of the three sugar mills challenging a single bench order which, in October 2016, had stopped shifting of...

  • SECP ex-chairman Hijazi's acquittal plea dismissed in Chaudhry Sugar Mills record tampering case

    A special court of the Federal Investigation Agency (FIA) on Friday dismissed former Securities and Exchange Commission of Pakistan (SECP) chairman Zafar Hijazi's acquittal plea in the Chaudhry Sugar Mills record tampering case...

    The court indicted Hijazi on October 27 for tampering with records related to the Sharif family's sugar mills by pressuring his subordinates to change dates on documents pertaining to the mills...

  • Relocation of Sharifs’ sugar mills illegal: LHC

    LAHORE: The Lahore High Court (LHC) on Monday rejected appeals regarding the relocation of three sugar mills, owned by former prime minister Nawaz Sharif and his relatives, to southern Punjab districts, declaring the move illegal...

    The court also ordered the appellants to move the mills back to their previous locations within three months...

  • Sugar mills’ relocation divides farmers in Punjab

    This previous week sugarcane growers from south Punjab descended on Lahore with plans to lay a siege to the Punjab Assembly in an attempt to make their voices heard on the relocation of some sugar mills...

    The Lahore High Court (LHC) has recently ordered the transfer of Ittehad, Chaudhry and Haseeb Waqas sugar mills from Bahawalpur, Rahim Yar Khan and Muzaffargarh, respectively, to central Punjab, where these units were originally set...

  • NAB gets records of Sharifs’ sugar mills, Dar’s firms

    LAHORE: The Securities and Exchange Commission of Pakistan (SECP) handed over records of various companies owned by Finance Minister Ishaq Dar as well as the Chaudhry Sugar Mills, owned by former prime minister Nawaz Sharif’s family, to the National Accountability Bureau (NAB) on Wednesday...

    The sources said that Mr Adnan’s role in the proceedings pertaining to the Chaudhry Sugar Mills was of key importance as he had been associated...

  • ECC to be asked to stop advance payments to sugar mills

    ISLAMABAD: The Public Accounts Committee (PAC) on Wednesday decided to ask the Economic Coordination Committee (ECC) of the cabinet to stop advance payments to sugar mills after the Trading Corporation of Pakistan (TCP) revealed that six mills owed it Rs2...

    Commerce Secretary Younis Dagha informed a meeting of the PAC that the TCP had moved court against the defaulting sugar mills...

  • Nepra may allow power generation, distribution by housing schemes, sugar mills

    ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) is likely to make a landmark decision by allowing private housing schemes — high-rise buildings and sugar mills — to generate and distribute their own electricity, a source privy to the proposal told Dawn on Sunday...

    Not only private housing schemes/societies but the authority is also considering similar facility for sugar industry...

  • Cotton growers concerned at flouting of ban on setting up sugar mills

    BAHAWALPUR: Local cotton growers have expressed concern over the alleged permission given to some businessmen by the Punjab government to set up sugar mills in Channigoth area despite a ban, warning that it would affect economy in the “cotton belt”...

    Dawn has learnt that recently, with the permission of Punjab government, some influential businessmen have acquired more than 50 acres of land near Channigoth near...

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