Category Archives: news story

State owned PTDC owns a number of motels and rest houses at prime locations in tourist destinations across Pakistan, including the famous mountain ranges in the north of the country. PTDC decided to to attract private sector investment to develop these facilities, and thereby further promote tourism, while ensuring the involvement of local government and communities.

As part of a larger consortium, RIAA Barker Gillette (Pakistan) was engaged by PTDC to provide transaction advisory services in relation to fifteen properties situated across Gilgit Baltistan and Azad Jammu and Kashmir. Working with other members of the consortium, we undertook an extensive feasibility study of properties and their potential for commercial use on a public private partnership basis. The study covered legal, financial, commercial and environmental due diligence, referred to international best practices, and recommended the most viable framework for commercial use of the properties.

Our team, led by Mazhar Bangash (Partner – Pakistan) and comprising Ehsan Ejaz (Senior Associate) and Momin Taufiq (Associate), also undertook a review of applicable legislation and prepared all necessary bidding and other documents.

For further detail, please visit the following link: https://tribune.com.pk/story/2330246/ptdc-to-lease-out-ajk-g-b-properties

RIAA Barker Gillette (Pakistan) was engaged by Lakeside Energy Limited as project company counsel for the development, construction and operation of their 50 MW wind power project in Jhimpir, Sindh, Pakistan, at an estimated cost of USD 65 million.

We advised on the project’s licence, tariff, implementation agreement and power purchase agreement and assisted with negotiations with the Alternate Energy Development Board. Further, we negotiated and finalised project documents with the EPC Contractors, as well as the finance documents, with a consortium of local and foreign lenders, including Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO) and Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG) to enable Lakeside Energy Limited to achieve financial close within a tight timeline. Subsequent to the financial close, we assisted the company on various matters pertaining to the disbursement of finances and the construction of the project. The project achieved commercial operations in April 2022.

We are delighted to have assisted in a project that will contribute to economic growth by adding low-cost and clean power to Pakistan. The project will supply clean wind energy at 4.7 cents per unit which is reported to be the cheapest cost of renewable energy supplied in the country. In Karachi, our team was led by the Managing Partner of Pakistan, Bilal Shaukat and Pakistan Partner Shafaq Rehman. Our Islamabad-based Partner, Nadir Altaf, advised the company on tariffs and other regulatory matters.

More details on the project can be found at: https://www.brecorder.com/news/40167501/naveena-groups-65-million-wind-power-project-begins-operations

We are pleased to have advised Engro Energy Limited (EEL) concerning the finalization of the letter of intent (LOI) signed between EEL and Engro Polymer and Chemicals Limited (EPCL). Under the LOI, EEL will be conducting a feasibility study to develop a 70 MW hybrid power solution comprising a wind and solar-based renewable power and steam element for powering EPCL’s petrochemical facility at Port Qasim.

The development of this project will mark a significant shift from EPCL’s reliance on imported RLNG to renewable energy.

Pakistan Senior Partner Hasnain Naqvee leads the team advising EEL.

For further details on this matter, please see: https://augaf.com/engro-polymer-to-shift-on-renewables-for-power-needs/

In 2018, we acted for Ant Financial Services Group (Ant), an affiliate of the Chinese e-commerce giant Ali Baba, in acquiring a 45% stake in Telenor Microfinance Bank (TMB) for approx. US$ 185 million.

Ant has periodically made further investments in TMB for new ventures and projects, with an additional investment of approximately US$ 25 million in the last six months.

We continue to advise Ant on all matters relating to their shareholding in TMB, including the Digital Banking License issued to TMB by the State Bank of Pakistan. Shafaq Rehman (Partner – Pakistan) is their primary contact.

For more information on Ant Financial’s investment in TMB, please visit:

https://businesschief.asia/technology/alibabas-ant-financial-invests-dollar185mn-into-pakistani-telco-tmb

RIAA Barker Gillette (Pakistan) was engaged by Lucky Electric Power Company Limited as project company counsel for the development, construction and operation of their 660MW imported coal fired power project at Bin Qasim Town, Karachi at an estimated cost of USD 1 billion. The plant is based on a supercritical cycle to utilise the benefit of higher efficiencies. It will operate at 85% capacity factor and contribute towards reducing Pakistan’s cost of generating electricity. The project commenced commercial operations in March 2022.

We advised the company on all project related matters including tariff, financing, EPC contracts, and coal supply. In Karachi, our team led by our Managing Partner – Pakistan Bilal Shaukat, and comprising Associates Parus Qureshi, Ahsan Amir and our then Senior Associate, Sara Ansari assisted with the financing, EPC and fuel supply agreements. Islamabad based Partner – Pakistan Nadir Altaf advised the company on tariff and other regulatory matters.

For more information on the project, please visit https://luckyelectricpower.com.

Indus Wind Energy Limited engaged RIAA Barker Gillette (Pakistan) as project company counsel for developing, constructing and operating their 50 MW wind power project in Jhimpir, Sindh, Pakistan, at an estimated cost of USD 64  million. The firm advised on matters relating to the project’s licence, tariff, implementation agreement and power purchase agreement, and has assisted the client in negotiations with the Alternate Energy Development Board. The firm also negotiated and finalised project documents with the EPC Contractors and the finance documents with a consortium of local and foreign lenders, including CDC Group, Plc, to enable Indus Wind Energy Limited to achieve financial close within a tight timeline. Subsequent to the financial close, we assisted the company on various matters pertaining to the disbursement of finances and the construction of the project. The project achieved commercial operations in March 2022.

We are delighted to have assisted in a project that will contribute to economic growth by adding low-cost and clean power to Pakistan. In Karachi, our team was led by the Managing Partner of Pakistan, Bilal Shaukat. Our Islamabad-based Partner – Pakistan, Nadir Altaf, advised the company on tariff and other regulatory matters.

For more information on the project, please visit https://www.bii.co.uk/en/our-impact/investment/indus-wind-energy-limited/

Healthcare giant GlaxoSmithKline plc (GSK) is currently undergoing a global restructuring to separate its consumer healthcare business from its pharmaceutical business into two separate legal entities. The consumer healthcare business will be demerged into newly independent company, Haleon. Renowned brands, including those with a strong presence in Pakistan, including Sensodyne, ENO and Panadol will comprise the portfolio of Haleon.

GSK has multiple subsidiaries in Pakistan, and employs over 1500 persons across departments and functions. With the division and separation of the two businesses, it is imperative for GSK to seamlessly transition its employees between the two companies.

RIAA Barker Gillette (Pakistan) has been engaged to assist GSK with this restructuring, and in particular advise on related employment and labour related matters in Pakistan. Our team led by Partner – Pakistan Shafaq Rehman and Associate Parus Qureshi are advising on this matter.

For more information on the restructuring, please visit https://www.gsk.com/en-gb/media/press-releases/gsk-announces-independent-consumer-healthcare-company-is-to-be-called-haleon/

Launched earlier this year, the Pakistan Single Window (PSW) is a digital portal which allows importers and exporters to submit customs declarations, permits and documents required by governmental departments which administer non customs regulations. Previously, filings with such departments had to be undertaken manually and required physical visits to their offices. PSW is a revolutionary project that makes import and export of goods into and out of Pakistan faster, easier and cheaper by providing a single standardised online form on which information relevant to customs declarations and up to 74 government departments, whose involvement depends on the nature of goods sought to be imported or exported, may be submitted. These include the State Bank of Pakistan, Drug Regulatory Authority of Pakistan, Department of Plant Protection, Pakistan Standards and Quality Control Authority, Animal Quarantine Department and Federal Seed and Certification Department.

RIAA Barker Gillette (Pakistan) was engaged by International Finance Corporation – a sister organisation of the World Bank – to act as the legal and regulatory expert to undertake the preparatory work for the establishment and operation of the PSW – a comprehensive regulatory system to speed up the flow of goods into  and out of Pakistan. Other members of the consortium included Sovereign Border Solutions and Grant Thornton.

Our team led by Mazhar Bangash, Partner – Pakistan, and Ehsan Ejaz, Senior Associate, conducted a legal gap analysis comparing the existing trade related legal and regulatory framework of Pakistan with internationally recommended best practices. Furthermore, we reviewed national laws as well as the governing statutes/regulations of individual stakeholders to suggest appropriate amendments and recommendations on the next steps to be taken at national level to fill the identified gaps and drafting of new legislation underpinning the implementation and maintenance of PSW.

For further detail on PSW and how it operates, please visit their website at https://www.psw.gov.pk/#about-us

Chambers and Partners have ranked RIAA Barker Gillette and its lawyers as front-runners in their practice areas in the 2022 editions of the Chambers Global Guide and the Chambers Asia Pacific Guide.

The Chambers Global Guide ranks the top lawyers and law firms in over  200 jurisdictions worldwide.  The Firm’s profile for the Chambers Global Guide 2022 may be accessed through the following link: Chambers Global Guide – RIAA Barker Gillette. The Firm has been ranked as a “Band 1” law firm for its Corporate and Commercial practice and its expertise in Projects, Infrastructure and Energy. Moreover, our partners Bilal Shaukat and Hasnain Naqvee have been recognized as leading lawyers for their contributions in the said practice areas.

The Chambers Asia Pacific Guide The Chambers Asia-Pacific guide and rankings provide the most in-depth and reliable recommendations on the best law firms and lawyers working across the legal market in Asia-Pacific. The Firm’s profile for the Chambers Asia Pacific Guide 2022 may be accessed through the following link: Chambers Asia Pacific Guide – RIAA Barker Gillette. The Firm has been ranked as a “Band 1” law firm for its Corporate and Commercial practice and its expertise in Projects, Infrastructure and Energy. The Firm has also been ranked as a “Band 2” law firm for its Banking and Finance and Dispute Resolution practice. Moreover, our partners Bilal Shaukat and Hasnain Naqvee have been recognized as leading lawyers for their contributions in the said practice areas.

The above rankings are, inter alia, based on in-depth interviews with our partners and clients. Upon being interviewed by the Chambers researchers, a client stated, “RIAA are responsive, professional and polite in explaining their advice, well researched in their opinions, and reliable in their response time. Apart from legal advice, they also share commercial and operational consequences of the options presented in their advice. We are very happy with their support and with the performance of their partners and associates.”

We are delighted to consistently receive recognition from leading legal directories, particularly based on high praise from our clients that value our ability to provide commercially sound legal solutions. We endeavour to ensure that the Firm maintains its reputation of providing high-quality service to its clients across distinct practice areas and industry sectors.