A listed Pakistani company has officially completed the regulatory and corporate process to change its principal line of business from the power sector to the healthcare and pharmaceutical industry, marking a significant strategic shift in its long-term business direction.
According to a material information notice submitted to the Pakistan Stock Exchange (PSX), the transition follows shareholder approval through a special resolution passed at the Extraordinary General Meeting (EGM) held on May 13, 2026. The company has also completed the necessary statutory filings with the Securities and Exchange Commission of Pakistan (SECP), making the change effective.
Under its revised business objectives, the company is now authorized to engage in a broad range of healthcare-related activities. These include the import, export, manufacturing, distribution, marketing, sale, rental, installation, maintenance, and after-sales servicing of medical equipment, medical devices, hospital supplies, and other healthcare products. The amended Memorandum of Association also permits the company to manufacture and trade pharmaceutical, medicinal, and allied products.
As part of this strategic transformation, the company announced that it is also pursuing a change in its corporate name to better reflect its new principal line of business. The name change is currently undergoing the required corporate and regulatory approval process. Once completed, the company will formally notify the Pakistan Stock Exchange and other stakeholders.
Management described the transition as a major milestone that establishes the regulatory foundation for expanding into Pakistan’s growing healthcare and pharmaceutical sectors. The company reaffirmed its commitment to keeping investors informed of any further material developments in accordance with applicable regulatory requirements.
The announcement signals a complete departure from the company’s previous focus on power generation-related activities and underscores its intention to capitalize on opportunities within the country’s healthcare industry.
