KARACHI: Ismail Industries Limited, a prominent food manufacturer and exporter in Pakistan, announced this week it would set up a subsidiary in Abu Dhabi after seeking the necessary regulatory approvals.
Pakistani businesses and industries have been grappling for years with chronic issues like the shortage of electricity, gas and water. A deteriorating law and order situation in most parts of the country and particularly the commercial hub, Karachi, is also fueling uncertainty for businesses. Major trade bodies have also rejected the new tax heavy finance bill for the coming fiscal year amid an annual inflation projection of up to 13.5 percent for June. The budget comes into effect on Monday.
“The Board of Directors (BoD) has resolved to establish/set-up a wholly owned subsidiary of the company in Abu Dhabi, UAE,” Ismail Industries said in a notice issued to the Pakistan Stock Exchange on Friday, informing its shareholders that the subsidiary would manufacture, market, sell, and distribute all kinds of food, including biscuits and confectionery.
“The company will accordingly seek all necessary regulatory approvals and proceed with the incorporation process once the same has been obtained.”
Ismail Industries produces a diverse range of confectionery, biscuits, chips, flour, packaging and other items. It includes Bisconni, which offers an extensive range of premium biscuits and cookies, and Candyland, which was set up in 1998 and makes a wide array of candies, chocolates, jellies and bubble gums.
Ismail Industries is ISO 22000 certified, a standard developed by the International Organization for Standardization dealing with food safety. It is also certified by SANHA (South African National Halal Authority), a leading authority in the certification for Halal products around the world.
Prominent Pakistani food manufacturer announces setting up UAE subsidiary
https://arab.news/6w4kz
Prominent Pakistani food manufacturer announces setting up UAE subsidiary
- Ismail Industries produces a diverse range of confectionery, biscuits, chips, flour
- It includes Bisconni, the biscuit company, and popular candy maker Candyland
Saudi Arabia condemns deadly mosque bombing in Pakistan’s capital
- The Kingdom rejects targeting of places of worship, expresses solidarity with Pakistan
- Saudi foreign ministry offers condolences to victims’ families, wishes injured recovery
ISLAMABAD: Saudi Arabia on Friday condemned the suicide bombing that targeted a mosque in Islamabad, expressing solidarity with Pakistan after the attack killed and injured dozens on the outskirts of the capital.
The blast, which struck during Friday prayers, killed at least 31 people and wounded more than 160 others, according to Pakistani authorities.
In a statement issued by its foreign ministry, Saudi Arabia denounced the targeting of a place of worship and rejected all forms of violence and extremism.
“The Kingdom of Saudi Arabia expresses its strong condemnation and denunciation of the terrorist bombing that targeted a mosque in the capital of the Islamic Republic of Pakistan, Islamabad,” the statement said.
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It added that the Kingdom stood firmly against attacks on civilians and places of worship and reaffirmed its support for Pakistan in confronting militant violence.
The ministry also extended condolences to the families of those killed and expressed sympathy with the Pakistani government and people, wishing the wounded a speedy recovery.
No militant group has so far claimed responsibility for the attack, which Pakistani officials say is being investigated.
