Dubai Islamic Bank Backs DG Khan Cement Acquisition Financing
July 9, 2026
A PKR 4.76 billion Islamic financing package will help Air Link expand electronics manufacturing, create hundreds of jobs and boost Pakistan’s industrial growth.
Pakistan’s financial sector has completed the financial close of a PKR 4.76 billion Islamic syndicated term finance facility to fund the expansion of Air Link Communication Limited and its wholly owned subsidiary, Select Technologies Limited. The 10-year financing package will support new manufacturing capacity at the Sundar Green Special Economic Zone, with a focus on locally producing smartphones, consumer electronics and home appliances.
The financing was arranged by a consortium comprising The Bank of Punjab, Askari Bank Limited, BankIslami Pakistan Limited and Pak China Investment Company Limited, with The Bank of Punjab serving as the lead institution. InfraZamin Pakistan Limited strengthened the transaction by providing a PKR 3.57 billion credit guarantee, allowing the companies to secure long-term Shariah-compliant funding on improved terms.
The investment is expected to expand Pakistan’s domestic manufacturing capabilities while reducing reliance on imported electronic products. Project plans also include the installation of a one-megawatt solar power system, which is projected to lower annual carbon emissions by roughly 700 tonnes and improve energy efficiency at the facility.
According to company estimates, the expanded plant will have the capacity to manufacture more than one million smartphones each year. The project is also expected to generate approximately 450 direct jobs within five years, with women expected to fill between one-quarter and one-third of those positions.
Commenting on the financing, Air Link Communication Chief Executive Officer Muzzaffar Hayat Piracha said, “The ten-year financing facility, backed by an InfraZamin credit guarantee, will play a pivotal role in driving innovation, introducing more products, and, above all, creating direct and indirect job opportunities for Pakistan’s youth, especially women.” He also acknowledged the support of InfraZamin, The Bank of Punjab and the participating financial institutions in bringing the transaction to completion.
InfraZamin Pakistan Chief Executive Officer Maheen Rahman said the investment would strengthen local production while creating wider economic benefits. She stated, “The facility will expand jobs, enhance digital inclusion and create potential for export.” She added that collaboration between financial institutions and industry partners would help build a more resilient manufacturing sector.
Officials from the participating banks described the financing as an example of how credit enhancement and Islamic financing structures can unlock long-term private investment for strategic industries. They said the transaction sets a precedent for future industrial projects by combining blended finance with Shariah-compliant funding to support sustainable economic development.
The financing follows Select Technologies Limited’s successful stock market listing and comes as Pakistan seeks to strengthen its domestic manufacturing base. Stakeholders believe the investment will contribute to technology transfer, industrial expansion and greater availability of locally manufactured consumer electronics over the coming years.
