IFTEKHAR WASFI 2ND CHANNEL

Highnoon Laboratories Limited (PSX: HINOON) conducted the groundbreaking ceremony of Project FORCE on January 22, 2026, at the Special Economic Zone, Sheikhupura.

Project FORCE represents Highnoon's greenfield manufacturing expansion initiative, aimed at establishing a globally compliant, efficient, and world-class pharmaceutical manufacturing facility in Pakistan, according to the company’s filing on PSX revealed today.

The new facility is designed to strengthen Highnoon's manufacturing footprint, support future growth, and enhance its ability to serve both domestic and export markets by adhering to internationally recognized quality and regulatory standards.

This initiative aligns with Highnoon Laboratories’ strategic vision to invest in world-class infrastructure and operational excellence, contributing to sustainable growth in an increasingly competitive

4 months ago | [YT] | 13

IFTEKHAR WASFI 2ND CHANNEL

VIS Credit Rating Company Limited (VIS) has reaffirmed the entity ratings of Power Cement Limited (PSX: POWER) at ‘A-/A2’, with a stable outlook.

The medium- to long-term rating of ‘A-’ indicates good credit quality with adequate protection factors, while the short-term rating of ‘A2’ shows a strong likelihood of timely repayment of short-term obligations supported by sound liquidity.

Previous ratings action was declared on December 23, 2024.

Power Cement, incorporated in 1981 and listed on the Pakistan Stock Exchange since its conversion into a public limited company in 1987, is engaged in the manufacturing, selling, and marketing of cement, including various cement varieties.

The assigned ratings take into account the Company’s association with the Arif Habib Group, which provides financial flexibility, strategic oversight, and support during periods of elevated leverage

4 months ago | [YT] | 10

IFTEKHAR WASFI 2ND CHANNEL

K-Electric not involved in shareholder arbitration

K-Electric Limited (PSX: KEL) received an arbitration notice from its indirect shareholders to the Government of Pakistan through the Attorney General’s office. K-Electric is not a party to the arbitration, and no claims have been made against the company.

The aforementioned information was disseminated through a notification to Exchange.

K-Electric Limited is a Pakistan’s largest integrated power utility serving Karachi, is indirectly involved in an arbitration initiated by its long-term shareholders against the Government of Pakistan through the Attorney General’s office.

K-Electric is not a party to the arbitration, and no claims have been made against the company.

The shareholders, who have invested hundreds of millions of dollars in K-Electric over more than two decades, modernized what was previously a failing state-owned

4 months ago | [YT] | 12

IFTEKHAR WASFI 2ND CHANNEL

K-Electric Limited (PSX: KEL) received an arbitration notice from its indirect shareholders to the Government of Pakistan through the Attorney General’s office. K-Electric is not a party to the arbitration, and no claims have been made against the company.

The aforementioned information was disseminated through a notification to Exchange.

K-Electric Limited is a Pakistan’s largest integrated power utility serving Karachi, is indirectly involved in an arbitration initiated by its long-term shareholders against the Government of Pakistan through the Attorney General’s office.

K-Electric is not a party to the arbitration, and no claims have been made against the company.

The shareholders, who have invested hundreds of millions of dollars in K-Electric over more than two decades, modernized what was previously a failing state-owned

4 months ago | [YT] | 8

IFTEKHAR WASFI 2ND CHANNEL

Barkat Frisian Agro Limited (PSX:BFAGRO) has entered into a share purchase arrangement to invest Rs26,000 in newly incorporated Agrolayer Protein Farms (Private) Limited (APFL), acquiring a 26% shareholding in the company.

The investment makes APFL an associated company of Barkat Frisian Agro Limited and will serve as a joint venture vehicle for developing the company's second poultry farm.

The move is part of the Company's ongoing backward integration strategy in the poultry supply chain, as previously disclosed to the Pakistan Stock Exchange (PSX) on September 12, 2025.

According to the company’s statement on PSX, any further investment in APFL will be subject to shareholder approval and compliance with applicable legal and regulatory requirements.

4 months ago | [YT] | 9

IFTEKHAR WASFI 2ND CHANNEL

Loads Limited (PSX: LOADS) has secured a maintained entity ratings from the Pakistan Credit Rating Agency (PACRA), which affirmed the company's long-term rating at 'A' and short-term rating at 'A1' with a stable outlook.

The auto parts manufacturer, which has been operating since 1979, continues to benefit from its robust market position in Pakistan's automotive components sector, where it specializes in producing exhaust systems, radiators, and specialized sheet metal products for major vehicle manufacturers.

According to PACRA's assessment, the company's creditworthiness stems from several decades of industry experience, proprietary die design and engineering expertise, and a varied product range that serves passenger vehicles, commercial trucks, and agricultural equipment manufacturers.

This foundation has enabled the firm to maintain steady client relationships and cons

4 months ago | [YT] | 5

IFTEKHAR WASFI 2ND CHANNEL

Service Global Footwear Limited (PSX:SGF) has approved the formation of a joint venture (JV) with China-based Golden Star Footwear Group Limited to establish a non-leather footwear manufacturing and export project in Pakistan.

The decision was taken at the company’s Board of Directors meeting held on January 20, 2026.

Under the proposed arrangement, SGF will hold a 51% equity stake in the joint venture company, while Golden Star Footwear Group Limited will own the remaining 49%.

The project cost of the JVC in Phase 1 is estimated to be $6,500,000 in equivalent Pakistani Rupee, which shall be contributed as per above shareholding proportion from time to time.


The joint venture company will be incorporated in Pakistan, subject to approvals from the Securities and Exchange Commission of Pakistan, according to the company's filing on PSX revealed today.

4 months ago | [YT] | 13

IFTEKHAR WASFI 2ND CHANNEL

Pakistan’s power generation sector recorded a total output of 8,487 GWh in December 2025, marking an 8.8% YoY increase compared with 7,800 GWh in December 2024.

The month also recorded the second-highest December generation on record and the highest level since Dec 21, showed a positive trajectory for Quarterly Tariff Adjustments (QTAs) and overall grid stability.

On a month-on-month basis, output rose 5.4%, supported by seasonal factors and stronger industrial demand, according to data compiled by Arif Habib Limited.

Despite higher generation, adjusted fuel cost in Dec 25 stood at Rs9.62/kWh, above NEPRA’s reference of Rs9.14/kWh. Consequently, DISCOs have requested a positive Fuel Cost Adjustment (FCA) of Rs0.48/kWh, ending three consecutive months of negative FCAs.

The increase primarily shows a higher thermal generation mix versus the reference, even though underlying

4 months ago | [YT] | 10

IFTEKHAR WASFI 2ND CHANNEL

Closing Bell

4 months ago | [YT] | 12

IFTEKHAR WASFI 2ND CHANNEL

PPL discovers gas from exploratory well Bilitang-1 in TAL Block

Pakistan Petroleum Limited (PSX:PPL) has discovered gas from the Lockhart Formation at its exploratory well Bilitang-1 in the TAL Block, located in district Kohat, Khyber Pakhtunkhwa Province.

The TAL Joint Venture comprises MOL Pakistan Oil & Gas Co. B.V. as operator with 10% working interest, Oil & Gas Development Company Limited (OGDCL) with 30% working interest, PPL with 30% working interest, Pakistan Oilfields Limited (POL) with 25% working interest, and Government Holdings Private Limited (GHPL) with 5% working interest.

The well was spudded-in on August 10, 2025, and successfully reached a target depth of 4,011 meters True Vertical Depth (TVD).p

4 months ago | [YT] | 6