KARACHI: ICI Pakistan Ltd announced on Tuesday that NutriCo Morinaga, its joint venture with Unibrands and Morinaga Milk Industry, has commenced commercial operations of growing up formula products at its manufacturing facility on Jan 10.

A press release stated that the manufacturing facility was set up at a cost of Rs5.5 billion and the first asset investment by a global Japanese dairy and food company in Pakistan.

The 12,000 tonnes per annum facility is aimed at ensuring that infants and children are provided with safe, clean and hygienic formula at competitive prices.

NIT hires Refinitiv for compliance

National Investment Trust (NIT), the asset management company, has selected “Refinitiv” to support its compliance effectiveness in line with the provisions of the Securities and Exchange Commission of Pakistan’s Anti-Money Laundering and Combating Financing Terrorism Regulatory Framework.

The company said in a notice that the Refinitiv’s world-check risk intelligence is used by regulated companies to help screen for financial crime risks as part of their anti-money laundering compliance programmes.

Published in Dawn, January 15th, 2020