Intermarket Securities, a leading brokerage firm, confirmed a US$4.5 million valuation for Netline, a family-owned business in the energy and power sector.
Netline is recognized as a leading business in the Solar and UPS (Uninterruptible Power Supply) sector. Netline has excelled as a turnkey solution specialist firm serving some of Pakistan’s largest industries and companies since 2002.
Netline founder and chairman Iqbal Zawari commented
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Pakistan’s growing solar industry is also one of the reasons why businesses like Netline are making such strides and achieving success. Pakistan plans to increase its share in renewable energy to 60 percent from 4 percent today.
Energy demand in Pakistan is growing by more than 9 percent annually – and it is estimated that total energy demand will increase by another 8-fold by 2030 and 20-fold by 2050. Renewable energy sources, especially solar energy, offer a sustainable solution to the growing gap between energy demand and supply.
Wajid Hussain, CEO, Intermarket Securities, said, “Pakistan has an abundance of solar radiation and receives solar energy almost throughout the year. When paired with international investment, this presents a fantastic opportunity to capture solar energy from the most irradiated locations in the country. The Pakistani solar energy market is expected to be boosted by government policies and supporting initiatives by leading businesses such as Netline.
NetLine is a leading provider of energy solutions with a focus on continuous innovation to improve the energy efficiency of electrical installations in the infrastructure of industrial and commercial sites. Netline is one of Pakistan’s leading players in critical power and energy solutions with offices in Pakistan, UAE and USA.
