Karachi: First Treet Manufacturing Modaraba (FTMM) has been granted a No Objection Certificate (NOC) by the Securities and Exchange Commission of Pakistan (SECP) to proceed with its merger with Treet Packaging Limited (TPL), as part of a corporate restructuring initiative. This development was officially reported on September 8, 2026, marking a significant step forward in the ongoing corporate realignment.

The merger is part of a Scheme of Arrangement initially announced on October 15, 2025, aimed at consolidating operations between FTMM and TPL. The approval comes in compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of the Pakistan Stock Exchange (PSX) Regulations. The SECP's letter, identified as SECP/M/RS/FTMM/50/319, stipulates that the merger may proceed, provided specific conditions outlined in the letter are met.

According to information available from the Pakistan Stock Exchange (PSX), this restructuring is a strategic move designed to streamline operations and enhance market competitiveness in the designated market category. The merger is expected to align the operational and financial strategies of the two entities, potentially leading to increased efficiency and better resource utilization.

The issuance of the NOC is a critical regulatory milestone for FTMM and TPL, marking the culmination of thorough regulatory scrutiny and compliance. The companies involved will now focus on satisfying the conditional requirements set forth by the SECP to ensure a smooth transition and integration post-merger.