Karachi Division

Karachi | ReNews Pakistan
The Karachi Development Authority has announced plans to fully digitise its land records and introduce a modern barcode based file tracking system to improve transparency and monitoring.
The development was discussed on Wednesday during a meeting at the Civic Centre between KDA Director General Asif Jan Siddiqui and a delegation of the Competition Commission of Pakistan led by its member Bushra Naz Malik.
The meeting focused on institutional matters, transparency and measures aimed at protecting citizens’ interests in land-related cases.
Bushra Naz Malik briefed the KDA director general on the role of the Competition Commission of Pakistan in promoting fair competition, preventing anti competitive practices and safeguarding consumer rights.
She said the commission would continue efforts to raise public awareness and address complaints related to land matters.
Asif Jan Siddiqui said the KDA is digitising its land records in phases and developing a secure digital archive to facilitate public access. He said the digital system would allow citizens to access property-related information remotely while improving record preservation and reducing delays and irregularities.
He added that the authority would also introduce a modern barcode-based mechanism to electronically track the movement of files. The system is expected to help monitor file progress, identify delays and ensure timely action on land related matters.
Siddiqui said transparency, merit and fair competition were essential for establishing a credible and reliable institutional system.
Senior officials from both institutions also attended the meeting.

Karachi | ReNews Pakistan
Cherat Cement Company Limited has announced its intention to acquire at least a 30 percent stake in Nimir Industrial Chemicals Limited.
Nimir Industrial Chemicals Limited disclosed to the Pakistan Stock Exchange on Thursday that it had received a public announcement of intention from Cherat Cement Company Limited through KTrade Securities Limited to acquire at least 30 percent of its ordinary shares.
The proposed acquisition remains subject to regulatory approvals, finalization of commercial terms, completion of due diligence and execution of the required agreements.
According to the acquisition document, the public announcement of intention may be withdrawn if the required regulatory approvals are not obtained.
Cherat Cement stated that its Chief Executive Officer, Azam Faruque, is the ultimate controlling shareholder of the company. It further disclosed that Cherat Cement currently has no existing shareholding in Nimir Industrial Chemicals and that no shares in NICL are controlled by persons acting in concert with the company.
Nimir Industrial Chemicals has approximately 110.59 million issued ordinary shares, according to the acquisition document.
The company’s major shareholders include Zafar Mahmood, who holds 19.72 percent, followed by Muhammad Yahya Khan with 11.89 percent and Khalid Mumtaz Qazi with 11.53 percent.
If completed, the proposed acquisition would give Cherat Cement a significant stake in Nimir Industrial Chemicals. However, the current announcement represents an intention to acquire the shares and does not constitute confirmation of a completed transaction.
The proposed deal will depend on the completion of regulatory approvals, due diligence, commercial negotiations and the execution of definitive agreements.

Karachi | ReNews Pakistan
Thatta Cement Company Limited has confirmed that it has reached an in-principle understanding on the proposed restructuring of Pakistan Services Limited, although the final terms have yet to be agreed and definitive agreements are still pending.
In a disclosure to the Pakistan Stock Exchange on Thursday, Thatta Cement said the understanding remains subject to the finalization of definitive agreement or agreements. The company added that the relevant details would be communicated to the exchange in due course.
The disclosure comes days after media reports suggested that a proposed out-of-court settlement could resolve a long-running dispute over control of Pakistan Services Limited, the owner and operator of the Pearl Continental hotel chain.
Pakistan Services had stated on September 7 that it was not aware of the reported arrangement and had not received any information from any shareholder regarding the matter.
According to earlier media reports, the proposed settlement could involve the division of five Pearl Continental properties between Thatta Cement and Fauji Foundation. However, Thatta Cement’s latest disclosure does not confirm the division of any specific hotels or establish the final ownership structure.
The dispute is linked to an approximately 56 percent voting stake in Pakistan Services Limited and has been the subject of legal proceedings for more than a year. Thatta Cement acquired around 28 percent of Pakistan Services in October 2025 and subsequently sought fresh elections for the company’s board.
Cases relating to the company’s shareholding and management have also been heard by the Islamabad High Court.
The latest disclosure confirms that an understanding on the restructuring has been reached in principle, but the final ownership arrangement, division of specific properties and other terms remain subject to definitive agreements. These details are expected to become clearer once the agreements are finalized and formally disclosed.