KARACHI: The Competition Commission of Pakistan (CCP) decided to greenlight the acquisition of two local companies engaged in the establishment and operation of a Liquefied Natural Gas (LNG) terminal by a firm based in the United Arab Emirates (UAE) on Saturday.
The CCP is an independent regulatory authority responsible for promoting fair competition and protecting consumers from anti-competitive practices.
According to an official statement, it took the decision to attract more foreign direct investment (FDI) and ensure the potential mitigation of gas shortages in Pakistan.
It said the two local companies were also involved in the import, storage, and distribution of LNG and Re-gasified Liquefied Natural Gas (RLNG) in the country.
“CCP has processed the two mergers, approving the 100 percent acquisition of Tabeer Energy (Private) Limited and Tabeer Energy Marketing (Private) Limited by the UAE-based Bison Energy FZCO,” the statement continued.
“CCP completed the Phase-1 competition assessments, conducted in accordance with Section 11 of the Competition Act, 2010,” it added. “As the proposed transactions did not raise any competition concerns, the mergers were approved.”
The UAE-based company has now acquired the complete shareholding of the two business entities from Diamond Gas International Japan Co. Limited.
“The transaction will result in foreign direct investment in Pakistan and help alleviate the gas shortage,” the statement said.
Pakistan has faced a number of energy-related issues, including gas shortages, in recent years. These include the increasing demand slow pace of the supply, especially in winter when its usage intensifies for heating purposes.
Additionally, the existing gas infrastructure in the country is outdated and leads to significant loss of gas during transmission.
Pakistan has also been seeking more FDI to financially strengthen itself amid an ongoing economic crisis that prompted its successive administrations to seek International Monetary Fund (IMF) bailouts to mitigate dollar liquidity crunch.
Pakistan’s competition commission approves UAE-based firm’s acquisition of two LNG companies
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Pakistan’s competition commission approves UAE-based firm’s acquisition of two LNG companies
- The CCP says the decision will attract more foreign direct investment, ensure the potential mitigation of gas shortage
- The local companies set up and operated an LNG terminal and were involved in the import and distribution of the gas
Pakistan launches digital cash aid for low-income families during Ramadan, PM says
- Ramadan relief moves from state-run Utility Stores to targeted digital wallet transfers
- Government to transfer financial assistance through wallets to support sehri, iftar expenses
ISLAMABAD: Pakistan will provide financial assistance to low-income households through digital wallets during the fasting month of Ramadan, Prime Minister Shehbaz Sharif said on Thursday, announcing a government relief initiative aimed at helping families afford daily meals.
The support program comes as many Pakistanis continue to face elevated food and utility costs despite easing inflation, with Ramadan traditionally increasing household spending on staple foods, fruits and energy consumption.
For decades, government-run Utility Stores Corporation outlets were central to Ramadan relief in Pakistan, selling subsidized flour, sugar, ghee and pulses through special “Ramzan packages” that drew long queues in low-income neighborhoods. In recent years, however, authorities have steadily scaled back the system amid mounting losses, corruption complaints and logistical inefficiencies, shifting instead toward targeted cash transfers delivered through digital wallets and banking channels.
The change reflects a broader policy move away from state-managed commodity distribution toward direct financial assistance intended to give households flexibility while reducing leakages in subsidy programs.
“The Government of Pakistan has launched a Ramadan package under which financial assistance will be transferred to deserving individuals through digital wallets so that households can maintain sehri and iftar meals,” Sharif said in a message issued by his office.
The prime minister said Ramadan encourages compassion and collective responsibility toward vulnerable segments of society, adding that welfare support was part of the state’s duty during the holy month.
Officials say the digital cash transfers approach improves transparency and reduces corruption risks while enabling faster payments nationwide, particularly in urban low-income communities.
But the shift to fully digital assistance also brings challenges.
Access to smartphones and reliable mobile Internet remains uneven, particularly in rural areas and among older recipients, while many low-income households use SIM cards registered to someone else, complicating verification.
