Lahore Division

Lahore | ReNews Pakistan The Competition Commission of Pakistan (CCP) has approved the acquisition of shares in Masood Textile Mills Limited by UAE-based Velora Global Ventures F.Z.C., clearing the transaction after a Phase I competition assessment under the Competition Act, 2010. The approved transaction involves the purchase of shareholding from two Chinese companies — Shanghai Challenge Textile Company Limited and Zhejiang Xinao Industry Company Limited — under a Share Purchase Agreement. Velora Global Ventures is registered with the Ajman Free Zone Authority in the United Arab Emirates and operates in wholesale trading of textiles and clothing as well as commercial brokerage activities outside Pakistan. Its associated companies, Gulf Textile Sourcing F.Z.C. and Zara Textile Trading F.Z.C., are engaged in international textile sourcing and trading, customer development and order coordination, giving the group an established presence in global textile supply chains. Masood Textile Mills is a publicly listed Pakistani textile manufacturer involved in the production and sale of cotton and synthetic-fibre yarn, knitted and dyed fabrics, and garments. During its Phase I review, the CCP examined whether the proposed acquisition could substantially lessen competition in relevant markets or create or strengthen a dominant market position. The commission found that Velora Global Ventures had no pre merger market presence in Pakistan. It therefore concluded that the acquisition was not expected to materially change Masood Textile Mills’ existing output, domestic sales or overall market position. The regulator also assessed the potential vertical relationship between Velora’s international textile trading activities and Masood Textile Mills’ manufacturing operations. According to the CCP, the relationship did not raise competition concerns, while the transaction was also not expected to create significant barriers to entry or substantially increase the acquirer’s market power. On the basis of its assessment, the commission authorized the acquisition under Section 31(1)(d)(i) of the Competition Act, 2010. The approval clears the competition-law aspect of the transaction and allows the proposed share acquisition to proceed, subject to any other applicable regulatory or legal requirements.

Lahore : ReNews Pakistan The Lahore Development Authority (LDA) has launched a fresh round of repair and upgradation work on nine major underpasses along Canal Bank Road, only a few years after the same facilities underwent a renovation project costing around Rs 300 million. The latest work was reviewed during a meeting of the LDA Engineering Wing chaired by Director General Tahir Farooq, where officials briefed the meeting on ongoing repair and restoration activities along the corridor extending from Thokar Niaz Baig to Mall Road. According to officials, the current upgradation programme includes asphalt laying, improvement of road signage and restoration of various infrastructure components at the underpasses. The LDA DG directed the concerned teams to ensure that the work is carried out according to required quality standards and that durable materials and construction practices are used to prevent repeated maintenance. The latest intervention follows concerns over the condition of renovation work carried out several years ago by the Traffic Engineering and Planning Agency (TEPA). Under the earlier project, existing tiles on the walls of nine underpasses were removed and replaced with a rock-wall finish. At the time, TEPA officials had stated that the new treatment was expected to have a longer service life and help reduce annual repair and maintenance costs. However, the rock wall treatment reportedly deteriorated within about three years, while several decorative lights installed as part of the beautification project were also stolen. Some of the underpasses were subsequently repainted, raising questions about the durability and sustainability of the previous renovation. The nine underpasses covered under the earlier project were Doctor’s Hospital Underpass, Jinnah Hospital Underpass, Punjab University Underpass, Muslim Town Underpass, Ferozepur Road Underpass, FC College Underpass, Jail Road Underpass, Mall Road Underpass and Dharampura Underpass. The new restoration programme is part of the LDA's broader efforts to improve road infrastructure and the condition of major traffic corridors in Lahore. The authority has instructed field teams to focus not only on the appearance of the underpasses but also on the quality and longevity of the rehabilitation work. The renewed intervention also highlights the need for infrastructure projects to incorporate stronger maintenance, durability and protection measures so that public funds spent on urban rehabilitation do not lead to repeated repair costs within a short period.

Lahore | ReNews Pakistan The Punjab government has set October 15, 2026, as the final deadline for completion of the Chief Minister Punjab’s Local Roads Program, directing field formations of the Communications and Works (C&W) Department to accelerate work and complete all remaining road schemes within the prescribed timelines. Punjab C&W Minister Malik Sohaib Ahmed Bharth issued the directives while chairing a high level meeting to review progress on the provincial road development programme. C&W Secretary Raja Jahangir Anwar, Special Secretary, Additional Secretaries and Chief Engineers attended the meeting, while Superintending Engineers and Executive Engineers participated through video link. Officials briefed the minister on the implementation status of ongoing schemes and reported that the Highways Department remains on track to complete the Sohne Pind Sohniyan Rahwan Program during October. The minister directed field teams to meet interim completion targets of September 30 and October 5 for additional road projects, before achieving the overall October 15 deadline for the Local Roads Program. Bharth ordered officials to ensure that lane markings, finishing works and other essential road components are completed alongside construction, rather than being left pending after the main civil works. He also directed all Chief Engineers to personally visit project sites and inspect both completed and ongoing schemes. The minister further tasked the Road Asset Management team with initiating systematic quality checks and ordered a comprehensive assessment of approximately 1,000 kilometres of roads being developed or improved under the programme. The inspection drive is intended to assess the quality and condition of completed roads and identify deficiencies requiring corrective measures, according to the directions issued during the meeting. Meanwhile, the Punjab government has also announced Phase II of the Local Roads Program, signalling an expansion of the provincial road development initiative beyond the projects currently under execution. Bharth said the provincial government was working to establish a wider road network across Punjab under the leadership of Chief Minister Maryam Nawaz Sharif, adding that improved road infrastructure was intended to strengthen connectivity and facilitate citizens across the province. With the October 15 deadline approaching, the C&W Department has been directed to maintain close field-level monitoring, accelerate unfinished works and ensure that roads handed over for public use meet the required construction and finishing standards.