PIA direct flights to connect Lahore with Peshawar from October 1

In this file photo, a Pakistan International Airlines (PIA) plane prepares to take-off at Alama Iqbal International Airport in Lahore on Feb. 1, 2012. (REUTERS)
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Updated 19 September 2021
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PIA direct flights to connect Lahore with Peshawar from October 1

  • Pakistan International Airlines will operate Lahore-Peshawar flights twice a week
  • New flight route expected to facilitate the business community

PESHAWAR: Pakistan’s national flag carrier will start operating direct flights from Lahore to Peshawar from October 1 to facilitate the business community, the airline’s spokesperson said.

The Pakistan International Airlines (PIA) flights will depart from Allama Iqbal International Airport to Bacha Khan International Airport on Mondays and Fridays.

“It is hoped that the initiative will greatly facilitate passengers and businesspeople. Traveling via road is physically tiring and time consuming,” PIA spokesperson Abdullah Hafeez Khan told Arab News on Saturday.

He said the route’s opening aimed at bridging the main cities of the eastern province of Punjab and northwestern Khyber Pakhtunkhwa, between which flights were briefly operated only once, 17 years ago.

The flights will be served by ATR aircraft.

The new route is expected to increase the ease of doing business, as a road commute from Lahore to Peshawar takes about seven hours.

Located near the Afghan border, Peshawar has a strategic importance for Pakistan’s trade with Afghanistan trade, while Lahore is a main business hub.

“Businesspeople in particular found it difficult to travel to Peshawar from Lahore via road, which was time consuming,” Muhammad Arafat, a custom clearing agent, told Arab News. “This will spur economic activities.”
 


US-based firm sells 75 percent stake in Pakistan’s leading starch producer to Nishat Group

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US-based firm sells 75 percent stake in Pakistan’s leading starch producer to Nishat Group

  • Rafhan Maize, prominent Pakistani starch and food ingredients producer, has a market capitalization of $355 million, says brokerage firm 
  • Brokerage firm Arif Habib Ltd. says transaction ranks among largest mergers and acquisitions deals in Pakistan in nearly two decades

Karachi: US-based firm Ingredion Incorporated has formally agreed to sell up to 75% of its stake in Rafhan Maize Products, a leading Pakistani starch and food ingredients manufacturer, to Pakistan’s Nishat Group, Ingredion’s financial adviser said on Sunday. 

Rafhan Maize is a subsidiary of Ingredion Incorporated, a prominent global corn refiner which began its operations in Pakistan as a pioneer of the corn refining industry in 1953. Over the last six decades, Rafhan Maize says it has expanded operations to become one of the country’s premier agro-based industries. 

Nishat Group, meanwhile, is a Pakistani private sector business conglomerate. Brokerage firm Arif Habib Limited acted as the exclusive financial adviser to Ingredion Incorporated for the transaction. 

“This landmark transaction ranks among the largest M&A deals in Pakistan in nearly two decades, giving the Nishat Group a controlling stake in Rafhan Maize,” Shahid Ali Habib, chief executive officer of Arif Habib Ltd., said in a statement.

He added that Rafhan Maize has a market capitalization of approximately Rs100 billion [$355 million].

Habib described Rafhan Maize as a “market leader” in Pakistan’s starch industry, operating three production facilities nationwide with a production capacity more than five times its nearest competitor.

“Ingredion shall retain a strategic stake in the company and continue to support the Nishat Group,” he added.