Pakistani IPP switches to pharmaceuticals business

SG Power Limited, a Pakistani independent power producer (IPP), has completed the shift from power generation to healthcare, with SECP registering its new principal business as pharmaceutical allied.

The listed company disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Monday.

The change clears the way for it to manufacture and trade medical devices, hospital supplies, and pharmaceutical products.

“Following the approval of the members by way of a Special Resolution passed at the Extraordinary General Meeting held on 13 May 2026 and the subsequent registration of the relevant statutory filings with the Securities and Exchange Commission of Pakistan (SECP), the company’s principal line of business has been formally changed from power generation allied (other) to the pharmaceutical allied (healthcare sector),” read the notice.

The amended principal line of business allows the company to import, export, manufacture, distribute, market, sell, rent, install, maintain, and after sales servicing of medical equipment, medical devices, hospital supplies and related healthcare products, together with the manufacture and trading of pharmaceutical, medicinal and allied products.

“This change represents a significant milestone in the Company’s strategic transformation and establishes the regulatory framework for pursuing opportunities within Pakistan’s healthcare and pharmaceutical sectors,” it added.

SG Power Limited was incorporated in Pakistan on February 10, 1994, under the Companies Ordinance, 1984. Its primary business activity is the generation and supply of electric power to its associated company, SG Allied Businesses Limited. SG Power is classified as an independent power producer (IPP).

In May 2026, SG Power Limited announced plans to raise nearly Rs535 million through the issuance of right shares.

The principal purpose of the fundraising was to invest in the healthcare sector and related businesses, focusing on expanding and strengthening the company’s operations and supporting future growth initiatives. The company believed this would diversify and strengthen its revenue base.