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Karachi, July 7,2026: A consortium of banks, led by The Bank of Punjab (BoP) and backed by InfraZamin Pakistan Limited, has achieved the financial close of a Rs4.76 billion, 10-year Islamic syndicated financing facility for Air Link Communication Limited and Select Technologies Limited. The financing will help expand advanced manufacturing facilities at the Sundar Green Special Economic Zone.
The consortium includes Askari Bank, The Bank of Punjab, BankIslami Pakistan, and Pak China Investment Company Limited as Mandated Lead Arrangers and Advisors. Meanwhile, InfraZamin provided a Rs3.57 billion credit guarantee, making the long-term financing possible.
The project will expand local production of smartphones, consumer electronics, and home appliances. As a result, it will support Pakistan’s industrialization drive and reduce dependence on imports.
BoP also served as the Intercreditor Agent, Investment Agent, Security Agent, Account Bank, and Shariah Advisor. The credit guarantee extended the financing tenor and improved pricing for the companies.
The companies will also install a 1MW solar power plant, which is expected to cut carbon emissions by around 700 tonnes annually while reducing energy costs.
The investment is expected to produce more than one million affordable smartphones each year, improving digital access across Pakistan. In addition, the project will create about 450 direct jobs within five years, with 25-30% reserved for women.
Air Link, a leading technology company, distributes, retails, and manufactures mobile phones and consumer electronics. It partners with global brands including Samsung, Apple, Xiaomi, Tecno, itel, Acer, and iMiki.
Its wholly owned subsidiary, Select Technologies Limited, manufactures smartphones and consumer appliances locally through partnerships with Xiaomi and Hisense. The financing follows Select Technologies’ successful IPO, reflecting growing investor confidence in Pakistan’s electronics manufacturing sector.
Air Link CEO Muzzaffar Hayat Piracha said the financing will accelerate the company’s “Made in Pakistan” strategy, expand local manufacturing, create jobs, and introduce more products. He thanked InfraZamin and the participating financial institutions for their support.
InfraZamin CEO Maheen Rahman said the partnership will strengthen local manufacturing, create employment, improve digital inclusion, and support future exports.
BoP Head of Investment Banking Muhammad Mateen Farooq said the transaction demonstrates how innovative financing structures can mobilize long-term capital for strategic industrial investments.
Officials from Askari Bank, Pak China Investment Company, and BankIslami also described the deal as a landmark example of blended finance and Shariah-compliant syndicated financing that will strengthen Pakistan’s manufacturing sector and promote sustainable economic growth.
