Punjab Province

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.

Rawalpindi | ReNews Pakistan
The Rawalpindi Ring Road has been proposed for development along the lines of a Special Economic Zone (SEZ), with the objective of transforming the 38 kilometre corridor into a major economic and commercial hub for northern Punjab.
A comprehensive land-use plan is being prepared to develop the Ring Road as a new centre for regional trade, industry and investment. A detailed review of the proposed plan was conducted at a meeting chaired by Housing Secretary Noor ul Amin Mengal.
Rawalpindi Commissioner Salman Ghani briefed the meeting on the key features of the proposed land-use plan, while the planning consultant presented the proposed zoning framework and requirements arising from future urban and economic development.
Under the proposed plan, a Special Economic Zone is to be established along the Rawalpindi Ring Road, while a tax-free zone is also proposed to attract investment and promote industrial activity.
According to the Housing Department spokesperson, both light and heavy industrial zones are planned along the Ring Road. An urban forest-based green buffer zone will also be developed between residential and commercial areas to help maintain environmental balance alongside rapid urban expansion.
The land-use plan also proposes dedicated land for hospitals and other healthcare facilities along the corridor.
Separate zones have been proposed for information technology, education, sports, food-related activities and other economic sectors. The plan also includes bus terminals and other essential urban facilities to cater to the expected growth in population, businesses and industrial activity along the Ring Road.
The Housing Department said the integrated land-use plan is intended to promote residential, commercial and agricultural activities in an organised manner. The proposed zoning framework is expected to enhance the economic significance of the Ring Road and create new opportunities for investment.
Officials said developing the Rawalpindi Ring Road as an economic gateway to northern Punjab could help expand industrial activity, regional trade and investment in the area.
The proposed land use plan will be submitted to the Punjab Cabinet for approval. Subsequent steps regarding the implementation of various zones and development activities will be determined after the plan receives the required approval.