ISLAMABAD, July 7, 2026: A Bank of Punjab-led consortium and InfraZamin Pakistan have announced 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 support the expansion of smartphone, consumer electronics and home appliance manufacturing facilities at the Sundar Green Special Economic Zone, strengthening local production and supporting Pakistan’s import substitution agenda.

The consortium includes Askari Bank Limited, The Bank of Punjab, BankIslami Pakistan Limited and Pak China Investment Company Limited as mandated lead advisors and arrangers. InfraZamin Pakistan is providing a Rs3.57 billion credit guarantee, enabling a longer financing tenor for the project.

The Bank of Punjab acted as intercreditor agent, investment agent, security agent, account bank and Shariah advisor for the transaction. InfraZamin served as guarantor on behalf of Air Link Communication Limited and Select Technologies Limited.

The project includes plans to establish state-of-the-art manufacturing facilities for smartphones, home appliances and consumer electronics. A 1MW solar power plant is also planned to reduce carbon emissions by an estimated 700 tonnes annually, according to the companies.

The investment is expected to produce more than one million affordable smartphones annually, improving access to digital devices and internet connectivity in Pakistan.

The project is also projected to create around 450 direct jobs within five years of construction, with 25 to 30 percent of positions expected to be reserved for women.

Air Link Communication Limited operates in Pakistan’s technology and consumer appliances sector, with distribution, retail and manufacturing partnerships involving several global brands. Its wholly owned subsidiary, Select Technologies Limited, manufactures smartphones and consumer appliance products locally.

Company officials said the financing would support local manufacturing, technology transfer, job creation and expansion in Pakistan’s consumer electronics sector.

Air Link CEO Muzzaffar Hayat Piracha said the facility would help advance the “Made in Pakistan” agenda by supporting innovation, product expansion and employment opportunities, particularly for youth and women.

InfraZamin Pakistan CEO Maheen Rahman said the transaction would help expand local manufacturing of digital and electronic equipment while supporting jobs, digital inclusion and potential exports.

Officials from The Bank of Punjab, Askari Bank, Pak China Investment Company and BankIslami also described the transaction as an important step for long-term private capital mobilization, Islamic financing and industrial investment in Pakistan.

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