Lahore (Nut Desk)
First Company in Pakistan to receive a 4.5 million USD valuation in the Energy sector
Intermarket securities, a leading brokerage firm, confirmed a 4.5 million USD valuation for NetLine, a family-owned business in the energy and power sector. NetLine is known as one of the pioneering businesses in the field of solar and UPS (uninterruptible power supply). NetlLine has demonstrated top-performing capabilities as a turnkey Solution specialist firm serving some of Pakistan’s largest industries and companies since 2002.
Mr. Iqbal Zavary, the founder and chairman of NetLine, commented, ‘’The years 2021 and 2022 were pivotal for our organisation, and we are overjoyed with the outcomes. Our quality, innovation, consistent performance, and dependability demonstrate that our products are technologically sophisticated and exceed industry standards. We are able to stay ahead of the curve thanks to investments in technology and prompt adoption of energy trends. We are honoured to be recognised as one of the leading family-based energy companies. This valuation by Intermarket Securities demonstrates our dedication to providing our clients with trustworthy and reliable products. I am proud of our team that has helped NetLine become one of the leading firms in Pakistan, offering benchmark sustainable energy solutions via world-class innovations and technology.’’
Pakistan’s booming solar industry is also one of the reasons why businesses like NetLine are making such strides and achieving success. Pakistan aims to boost its share of renewable energy to 60% as compared with 4% today. Energy demand is increasing by more than 9% annually in Pakistan – and it is projected that total energy demand will further increase 8-fold by 2030, and 20-fold by 2050 in Pakistan. Renewable energy sources, in particular solar power, present a sustainable solution to the widening energy demand and supply gap.
Mr Wajid Hussain, CEO of Intermarket Securities, said, ‘’ Pakistan has an abundance of solar irradiance and receives sun energy virtually all year. When paired with international investment, this represents a fantastic chance to harvest solar energy from the most irradiated places in the country. The Pakistani solar energy market is expected to be spurred by supporting government policies and initiatives by well-developed businesses like NetLine.’’