Sindh Province

Karachi | ReNews Pakistan
Bank Alfalah has partnered with the Karachi Metropolitan Corporation (KMC) and the Indus Earth Trust (IET) to launch its first Urban Forestry project at Ibn e Qasim Park in Clifton, marking a new step in its environmental sustainability agenda with an initial investment of PKR 3 million.
The initiative was formally launched during a ceremony where Bank Alfalah President and Chief Executive Officer Atif Bajwa and Indus Earth Trust Chief Executive Officer Aijaz Ali Abro signed a Memorandum of Understanding (MoU), establishing a collaborative framework for the project.
Under the agreement, the Bank will fund the development of an initial plantation area within Ibn e Qasim Park. The urban forestry initiative is designed to reduce urban heat, improve air quality, support biodiversity and enhance Karachi’s resilience to climate change through the creation of sustainable green spaces. The launch ceremony also featured a symbolic tree plantation activity.
Speaking at the event, Atif Bajwa said the partnership reflects a shared commitment to securing a greener future for Karachi. He described parks as the “lungs of every city,” adding that expanding urban green spaces is essential for improving public health, environmental quality and climate resilience. He said the Bank was proud to work with public and civil society partners to support long term environmental solutions for Pakistan’s largest city.
Indus Earth Trust President Afia Salam said the collaboration demonstrates the impact of partnerships between the public, private and non-profit sectors in restoring urban ecosystems. She noted that the project will focus on planting native species to create self-sustaining green areas supported by community participation and long term stewardship, benefiting both the environment and future generations.
The urban forestry initiative forms part of Bank Alfalah’s wider sustainability programme. The Bank is working with WWF-Pakistan to plant 100,000 mangroves by 2030 and has partnered with the Pakistan Air Quality Initiative (PAQI) to install seven air quality monitoring stations across Karachi. It is also supporting the establishment of an Air Quality Laboratory at the Lahore University of Management Sciences (LUMS).
During the event, Bank Alfalah also unveiled its fourth Annual Sustainability Report, outlining progress across its environmental, social and governance (ESG) priorities. The report revealed that the Bank has provided PKR 24 billion in green financing and PKR 75.2 billion in financing for small and medium enterprises (SMEs), underscoring its commitment to sustainable development, environmental responsibility and inclusive economic growth.

Karachi: [ReNews Pakistan]
Karachi Mayor Barrister Murtaza Wahab has invited the Association of Builders and Developers (ABAD) to work with the city administration on a new plan for the redevelopment of informal settlements, as part of wider efforts to improve urban infrastructure and living conditions across Karachi.
The proposal was discussed during a meeting between the mayor and an ABAD delegation led by its chairman, Hassan Bakhshi. The two sides reviewed ongoing development projects, challenges facing the construction industry and broader urban issues affecting Pakistan’s largest city.
Wahab said the construction sector remains one of the most important contributors to the national economy, supporting millions of jobs and generating activity across several related industries. He added that the Sindh government and the Karachi Metropolitan Corporation are working to accelerate infrastructure development and create a more organised framework for future urban expansion.
Highlighting the need for sustainable planning, the mayor said Karachi requires a new development model for informal settlements that can improve housing conditions, basic services and neighbourhood infrastructure without ignoring the needs of existing communities.
He called on ABAD to contribute its technical expertise, development experience and private-sector capacity to help formulate and implement the proposed initiative. The collaboration could potentially involve housing improvements, utility upgrades, road access, drainage and other essential services in densely populated settlements.
The meeting also focused on Karachi’s growing traffic problems. Wahab described congestion as one of the city’s biggest urban challenges and said the KMC is considering the construction of modern parking plazas at key locations to reduce roadside parking and improve traffic flow.
He said better parking management, improved road infrastructure and coordinated planning would be essential to addressing mobility issues in major commercial and residential areas.
The meeting was attended by Municipal Commissioner Abrar Jaffar, Financial Adviser Gulzar Ali Abro, senior KMC officials and representatives of the construction sector.
The proposed partnership reflects an effort to bring the public and private sectors together to address Karachi’s long-standing urban challenges, particularly unplanned settlements, infrastructure pressure and traffic congestion.

Karachi | ReNews Pakistan
Nishat Group has acquired a controlling stake in Rafhan Maize Products Company Limited through a landmark transaction valued at approximately Rs66 billion.
The deal has been described as Pakistan’s largest private sector cross border acquisition of a listed company, excluding privatisation transactions.
Dada Partners Private Limited acted as the exclusive financial adviser to Nishat Group throughout the acquisition process.
Under the transaction, Nishat Group acquired a total of 73.9 percent shares in Rafhan Maize. Of these, 51 percent were purchased from the company’s majority shareholder, US based Ingredion Incorporated, which will retain a strategic minority shareholding.
Another 20.5 percent stake was acquired from a minority shareholder, while 2.4 percent shares were purchased through a mandatory public offer. Following the transaction, Nishat Group’s overall shareholding in the company has increased to a super majority interest of 75.9 percent.
Dada Partners advised Nishat Group across all stages of the transaction, including deal origination, due diligence, valuation, competitive bidding, negotiations, execution of the share purchase agreement and transfer of the controlling stake.
The process also involved establishing a post transaction governance framework between Nishat Group and Ingredion as a continuing minority shareholder.
Dada Partners also assisted with regulatory approvals relating to competition, the mandatory public offer, foreign exchange remittances and acquisition financing in foreign currency through banks.
Dada Partners Founder and Managing Partner Shazad Dada said the transaction brought together one of Pakistan’s largest business groups and a leading global multinational.
He said the successful completion of the acquisition demonstrated that Pakistani investors remained interested in prominent domestic assets, while international groups continued to view Pakistan favourably through collaboration with strong local partners.
Shazad Dada thanked the Mansha family for its strategic vision and confidence in Dada Partners. He also acknowledged the cooperation of Ingredion, the Monnoo family, fellow advisers, legal counsels, the State Bank of Pakistan, the Securities and Exchange Commission of Pakistan and the Competition Commission of Pakistan.
The completion of the transaction represents a major step in Nishat Group’s expansion into Pakistan’s food processing industry and its growing focus on value added exports.
The deal also reinforces Dada Partners’ experience in advising on complex mergers and acquisitions involving cross border execution, regulatory approvals, sophisticated financing structures and coordination among multiple stakeholders.