Karachi Division

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.

Karachi | ReNews Pakistan
Karachi’s historic Cotton Exchange Building remains sealed nearly a month after the Sindh High Court ordered that the Karachi Cotton Association be allowed to retain possession and continue its business activities without interference.
The Karachi Cotton Association has expressed concern that the Evacuee Trust Property Board has yet to implement the court’s judgment issued on June 18, 2026.
The court had directed that the association should remain in possession of the property and continue its operations until the ownership dispute is finally resolved.
According to the KCA, the building has remained sealed since December 12, 2025, bringing its administrative and business operations to a complete halt.
The association said important documents and computers taken into custody at the time the building was sealed have also not been returned, leaving it unable to perform its day to day functions.
The Karachi Cotton Association, the Karachi Metropolitan Corporation, tenants of the building and other stakeholders had challenged the action of the Evacuee Trust Property Board before the Sindh High Court.
In its June 18 judgment, the court suspended a 1963 notification concerning the legal status of the property and referred the ownership dispute to the ETPB chairman for a fresh determination.
The chairman was directed to decide the matter within 90 days, while the court ordered that the KCA should retain possession of the building and continue its business activities until a final decision was reached.
The Sindh High Court also quashed the Federal Investigation Agency case linked to the property ownership dispute.
Following the alleged failure to implement the ruling, the Karachi Cotton Association approached the court again and sought contempt proceedings against the relevant ETPB officials.
The association maintained that the continued refusal to hand over possession of the building, despite clear judicial directions, amounted to a violation of the court’s order.