Day: July 14, 2026

Islamabad: Competition Commission of Pakistan (CCP) has approved a pre-merger application paving the way for an internal restructuring within the South Korean Lotte Group while finding no competition concerns in Pakistan’s food and beverage markets.

The transaction involves Japan’s Lotte Co., Ltd acquiring shareholding in Singapore-based Lotte Confectionery (S.E.A.) Pte. Ltd. from LotteWellfood Co., Ltd. As the target company owns interests in Pakistan’s LotteKolson and Lotte Akhtar Beverages, the share acquisition required prior clearance from the CCP under the Competition Act, 2010.

Following a Phase-I competition assessment, the Commission concluded that the transaction is purely a change in ownership within the Lotte Group and will not alter market structure or competitive dynamics in Pakistan.

The Commission noted that the acquiring company does not conduct confectionery or food business in Pakistan. Consequently, the transaction will neither increase market concentration nor create or strengthen a dominant position in any of the relevant product markets.

The CCP assessed competition across the markets for pasta, gum, savory snacks, sweet biscuits, cakes, and beverages, with Pakistan identified as the relevant geographic market. The review found that the market shares of LotteKolson and Lotte Akhtar Beverages would remain unchanged following the transaction, with no adverse effects on competition.

Accordingly, the Commission authorized the acquisition under Section 31(1)(d)(i) of the Competition Act, 2010, concluding that the transaction would not result in a substantial lessening of competition.

The decision reflects the CCP’s commitment to facilitating investment, corporate restructuring and business expansion through efficient merger review. By providing timely regulatory certainty for transactions that do not raise competition concerns, the Commission supports ease of doing business while continuing to safeguard competitive markets.

Islamabad: A high-level delegation, led by the Federal Minister for Energy (Power Division), Sardar Awais Ahmad Khan Leghari, on Monday held a meeting with the Kingdom of Saudi Arabia’s Energy Working Group in Riyadh, reaffirming the longstanding brotherly ties between the two nations and charting a course for enhanced bilateral cooperation in the power sector.

The Pakistani delegation engaged with Eng. Nasser Al-Qahtani, Assistant Minister of Energy for Electricity Affairs, during the Joint Working Group on Energy session. Mohammed Alibrahim, Assistant Minister of Energy for Oil and Gas, and Majed Aloutaibi, Deputy Minister for Oil and Gas, also participated in the broader discussions, which provided both sides with an opportunity to exchange views on the global energy transition and the transformative reforms currently reshaping Pakistan’s power sector, said a press release.

Minister Leghari highlighted the Government of Pakistan’s comprehensive reform agenda, which is focused on improving sector efficiency, strengthening institutional governance, accelerating digital transformation, and enhancing financial sustainability.

He underscored Pakistan’s commitment to creating an enabling environment for private sector participation and foreign investment, presenting significant opportunities in power transmission infrastructure and grid modernization to support rising electricity demand and the integration of clean energy resources.

During the discussions, the Pakistani side presented significant investment opportunities in the power transmission sector emphasizing the growing need for expansion of national grid. A key area of discussion was Pakistan’s ongoing digitalization drive, particularly the deployment of Smart Metering and Advanced Metering Infrastructure (AMI) across the distribution network.

The Minister described these initiatives as critical enablers for reducing technical and commercial losses, improving operational efficiency, and delivering better services to consumers.

Reaffirming the deep-rooted and fraternal relationship between Pakistan and the Kingdom, Minister Leghari extended a formal invitation to the KSA Energy Working Group to visit Pakistan for first-hand insight into the country’s reform initiatives and to explore priority investment areas in transmission infrastructure, digitalization, and smart utility technologies. The Pakistani side assured full government support and facilitation for Saudi investors and partners.

Both delegations expressed their mutual commitment to maintaining close engagement and translating today’s discussions into tangible collaborations that contribute to sustainable economic growth, energy security, and regional cooperation. The meeting concluded with a shared vision for a resilient, technology-driven energy future that benefits both nations.

Islamabad: The Prime Minister’s Youth Programme (PMYP) and the Chess Federation of Pakistan (CFP) on Monday signed a Letter of Intent (LoI) at the Pakistan Sports Complex (PSC) to launch the Maarka-e-Haq Chess Series and a nationwide partnership aimed at promoting chess through grassroots development, talent identification, youth engagement and greater international exposure for Pakistani players.

The LoI was signed during a ceremony attended by Chairman PMYP, Rana Mashhood Ahmad Khan as chief guest, President Chess Federation of Pakistan, Syed Zeeshan Naqvi, Vice President, Malik Rehan Azam and other senior officials.

Under the agreement, PMYP and the Chess Federation will jointly promote chess across the country by launching a nationwide talent hunt programme, identifying and nurturing promising young players, strengthening grassroots development and facilitating the participation of Pakistani players in regional and international competitions.

The partnership places the Maarka-e-Haq Chess Series at the center of efforts to expand competitive opportunities, discover emerging talent and encourage wider youth participation in chess across Pakistan.

Addressing the ceremony, Rana Mashhood Ahmad Khan congratulated the Chess Federation of Pakistan on its growing achievements and commended President, Syed Zeeshan Naqvi for his leadership and commitment to expanding the game nationwide.

He reaffirmed the government’s commitment to promoting sports as a key pillar of youth development, saying every possible support would be extended to the federation to strengthen chess at every level.

Describing chess as a sport that sharpens focus, discipline, mental strength, strategic thinking and analytical ability, Rana Mashhood said the game played a vital role in developing confident, capable and intellectually strong young people.

He said talent identification would begin at the grassroots level to ensure gifted players from every part of the country receive opportunities to develop and compete.

Chief PMYP said Pakistani youth were bringing pride to the country through outstanding achievements in diverse fields and noted that the Prime Minister’s Youth Programme was complementing its education, employment and youth empowerment initiatives by making sustained investments in sports development.

Calling the current year a milestone for sports in Pakistan, Rana Mashhood announced that the country’s first ever Hockey League would be launched soon as part of broader efforts to revive national sports and create new opportunities for young athletes.

Speaking on the occasion, Chess Federation of Pakistan President Syed Zeeshan Naqvi said the federation is taking practical steps to expand chess across the country through structured development programmes, stronger institutional partnerships and increased competitive opportunities.

He thanked the Prime Minister’s Youth Programme, Rana Mashhood Ahmed Khan and the Pakistan Sports Board for their continued support, expressing confidence that the partnership would accelerate the growth of chess, uncover a new generation of talented players and strengthen Pakistan’s presence in international competitions.

Islamabad: Federal Minister for Kashmir Affairs and Gilgit-Baltistan Engineer Amir Muqam on Monday said Azad Jammu and Kashmir (AJK) general elections would be held on July 27, as scheduled, saying the people’s mandate would determine the region’s future leadership.

Muqam made the remarks while welcoming former AJK Legislative Assembly candidate Kamran Bashir Gorsi into the Pakistan Muslim League-Nawaz (PML-N). Gorsi also announced his withdrawal from the LA-19 Poonch-II elections.

The minister said growing public support for the PML-N and its leadership, including former Prime Minister Nawaz Sharif and Prime Minister Shehbaz Sharif, was evident across Azad Kashmir.

He said Poonch Division had played a historic role in Pakistan’s creation and national defense, paying tribute to the region’s martyrs and veterans. He also praised residents of border areas for demonstrating solidarity with Pakistan’s armed forces during the recent Pakistan-India tensions.

Paying tribute to the martyrs of July 13, 1931, Muqam reiterated Pakistan’s political, diplomatic and moral support for the people of Indian-administered Kashmir, saying their decades-long struggle for the right to self-determination would continue to receive Pakistan’s backing.

The minister added that the government remained committed to implementing agreements reached with the Public Action Committee, including measures related to subsidized electricity, and dismissed reports suggesting those agreements had been withdrawn.

Speaking on the occasion, Kamran Bashir Gorsi thanked the PML-N leadership for welcoming him into the party and formally announced his withdrawal from the LA-19 Poonch-II constituency in the upcoming AJK elections.

Islamabad: Prime Minister Muhammad Shehbaz Sharif, on Monday, undertook a day-long visit to Doha to personally convey condolences on behalf of the people and Government of Pakistan, to the leadership and people of the State of Qatar on the passing away of the Father Amir, Sheikh Hamad bin Khalifa Al Thani.

The prime minister was accompanied by former prime minister Mian Nawaz Sharif, Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar, Information Minister Atta Ullah Tarar and other senior officials, PM Office Media Wing said in a press release.

In Doha, the prime minister and Pakistan delegation called on Amir of the State of Qatar, Sheikh Tamim bin Hamad Al Thani and conveyed heartfelt condolences at the sad demise of the Father Amir.

He paid rich tribute to the late Father Amir’s visionary leadership, statesmanship, and enduring contributions to Qatar’s remarkable transformation as well as to regional peace, stability, and development.

The prime minister recalled with deep appreciation, the Father Amir’s warmth, kindness, and abiding affection for Pakistan, and his many memorable visits to the country over the years.

He also reaffirmed Pakistan’s steadfast solidarity with the leadership and people of Qatar during this period of profound grief, and prayed that Allah Almighty grant the departed soul the highest place in Jannat-ul-Firdaus and bestow strength upon the Royal family and the Qatari nation to bear this irreparable loss.

The Qatari Amir thanked Prime Minister Shehbaz Sharif, former prime minister Nawaz Sharif and Deputy Prime Minister/Foreign Minister Ishaq Dar and the delegation for the special gesture of travelling to Doha to personally offer condolences, describing it as a reflection of the deep-rooted fraternal bonds between the two brotherly countries and people.

Islamabad: Chairman Senate, Syed Yousaf Raza Gilani, here on Monday attended a farewell luncheon hosted by the Governor of Khyber Pakhtunkhwa, Faisal Karim Kundi, in honour of the Ambassador of the Republic of Bulgaria to Pakistan, Irena Gancheva.

On the occasion, Chairman Senate extended his best wishes to Ambassador Gancheva and appreciated her valuable role in strengthening Pakistan-Bulgaria relations.

He commended her efforts to enhance diplomatic, parliamentary, economic, trade, cultural, and people-to-people ties during her tenure and said her services would be remembered with appreciation.

The Chairman Senate also conveyed his good wishes to the leadership and people of Bulgaria, expressing confidence that the friendly bilateral relations between the two countries would continue to grow.

The luncheon was also attended by State Minister for Overseas Pakistanis, Muhammad Aoun Chaudhry, MNA Syed Abdul Qadir Gilani, ambassadors of various countries, and other distinguished guests.

Chairman Senate Syed Yousaf Raza Gilani and Governor Khyber Pakhtunkhwa Faisal Karim Kundi also discussed the country’s political and economic situation, public welfare, Centre-province cooperation, and other matters of national importance.