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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