World Bank Invests $300M in Pakistan Mining

The IFC – International Finance Corporation, the private investment arm of the World Bank, has committed $300 million in debt financing to support Pakistan’s Reko Diq copper-gold mining project. This investment aims to facilitate the development of one of the world’s largest undeveloped copper and gold deposits, highlighting international support for Pakistan’s mineral sector.

Asad Rasool has been appointed CEO of Pakistan International Airlines Holding Company Limited (PIAHCL), effective April 10, 2025, replacing AVM Muhammad Amir Hayat. Rasool takes over at a pivotal time, as PIA recently reported its first net profit in over 20 years, posting Rs2.26 billion in net earnings for FY2024. PIAHCL, a majority state-owned entity, manages select assets and subsidiaries of the national airline. The leadership change comes amid ongoing efforts to privatize PIA a key condition of Pakistan’s $7-billion IMF deal. A previous bid for a 60% stake fell short of the government’s Rs85 billion, prompting a new round of bidding.