The Competition Commission of Pakistan (CCP) has approved mergers and acquisitions bringing Rs29.6 billion in Foreign Direct Investment (FDI) to Pakistan during 2024.Â
The CCP reviewed 64 pre-merger applications across key sectors, including banking, energy, pharmaceuticals, consumer goods, agriculture, and telecommunications.
One of the standout transactions was Aramco Asia’s acquisition of a 40% stake in GO Petroleum, marking the company’s entry into Pakistan’s fuel retail market. Approved in April 2024, this deal signals Aramco’s confidence in Pakistan’s economic potential and highlights the energy sector’s appeal to global investors.
In March 2024, the CCP approved the acquisition of Advans Pakistan Microfinance Bank Limited by MNT–Halan Pak B.V., a Dutch-Egyptian financial group. The deal is expected to transform the financial services sector by introducing modern financial technology and enhancing market competition.
The agriculture sector also saw a boost with Euricom S.P.A. acquiring a 50% shareholding in Fatima Euricom Rice Mills (Pvt) Ltd. Approved by the CCP, this Italian investment highlights Pakistan’s untapped agricultural potential and its growing appeal in the global agribusiness market.
In November 2024, the CCP approved the 50% acquisition of Total Parco Pakistan Ltd (TPPL) by Switzerland’s Aquashore SA, part of the Gunvor Group. This deal reflects growing international interest in Pakistan’s energy sector, aligning with the country’s energy diversification goals.
In another significant deal, Wafi Energy Holding Limited, a UAE-based subsidiary of Saudi Arabia’s Asyad Holding, acquired a 77.42% stake in Shell Pakistan Limited. Approved in July 2024, the acquisition strengthens ties between Pakistan and Gulf countries while advancing the energy market.
The CCP is currently conducting a second-phase assessment of a high-stakes deal involving the acquisition of Telenor Pakistan (Private) Limited and Orion Towers Private Limited by PTCL. This complex merger is expected to reshape Pakistan’s telecommunications sector, impacting market competition and consumer dynamics.
Beyond these mergers, the CCP granted 56 exemption certificates in sectors such as pharmaceuticals, automotive, consumer goods, food & beverage, telecommunications, and transport. These exemptions aim to encourage market competition, promote technological innovation, and deliver broader economic and consumer benefits.
