Wafi plans Dubai subsidiary to expand commercial activities
MG News | February 10, 2026 at 02:37 PM GMT+05:00
February 10, 2026 (MLN): Wafi Energy Pakistan
Limited's (PSX:WAFI) Board of Directors has approved the establishment of a
wholly owned subsidiary in the Dubai Multi Commodities Centre (DMCC), Dubai
Free Zone, to expand the company's business and commercial activities outside
Pakistan.
The decision was taken at a board meeting subject to
approval from the State Bank of Pakistan, according to the company's statement
issued today.
The Dubai-based subsidiary will enable the company to
strengthen its regional presence and pursue business opportunities in
international markets.
The Board of Directors has also approved an investment of up
to $500,000 in the proposed wholly owned subsidiary, subject to approval from
the State Bank of Pakistan and compliance with all other applicable statutory
and legal requirements.
The establishment of the DMCC subsidiary represents a
strategic move by Wafi Energy Pakistan to diversify its operations
geographically and tap into the Middle East market.
Dubai's DMCC Free Zone is a prominent business hub that
offers companies access to regional and global markets.
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