ISLAMABAD: Pakistan’s Ijara Capital Partners Ltd. has launched a private equity fund to raise five billion rupees ($29 million) to invest in real estate projects as Prime Minister Imran Khan encourages a construction boom, Bloomberg reported.
The South Asian nation is seeing a flurry of activity in its real estate sector after Khan selected the construction industry as a catalyst to boost economic growth. The nation is offering subsidies for low-cost houses and banks have been asked to increase their credit exposure for the industry to 5% of their loan portfolios. The country saw multiple REIT offerings for the first time last year.
The fund will be raised and deployed in multiple projects within six months, Farrukh Ansari, chief executive officer at Ijara Capital, said in an interview to Bloomberg. It will offer an internal rate of return between 25% and 30%.
“Real estate is a very attractive sector in terms of returns,” Ansari said. “There are not a lot of investment instruments to invest in transparently in Pakistan.”
The fund called Tameer Fund has seen interest from foreign investors, said Ansari. The amount raised will be used to fund land acquisitions and project development, he said
Pakistan’s Ijara launches private equity fund to raise $29 million for real estate
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Pakistan’s Ijara launches private equity fund to raise $29 million for real estate
- The fund will be raised and deployed in multiple projects within six months
- It will offer an internal rate of return between 25% and 30%, he said
High-level IFC delegation in Pakistan to identify ‘viable opportunities’ for investment
- Investment in infrastructure, energy, transport, public finance, and privatization top discussions
- PM Sharif has vowed to reduce dependence on foreign loans and seek more direct investment
KARACHI: Top officials from the International Finance Corporation (IFC) are visiting Pakistan this week to explore the market and engage with key government stakeholders on identifying “viable opportunities” for investment,” the finance ministry said in a statement.
Pakistani Prime Minister Shehbaz Sharif’s government has vowed to reduce dependence on foreign loans in the coming years and seek more direct investment.
The country in 2023 nearly defaulted on the payment of its foreign debts until it was rescued by a last-gasp $3 billion bailout loan from the IMF. Last year, Islamabad secured a new $7 billion loan deal from the international lender.
Since then, the country’s economy has started improving, with inflation dropping to 0.7 percent year-on-year in March 2025, the lowest in sixty years and a sharp contrast to the 38 percent peak experienced in May 2023. Aggressive interest rate cuts by Pakistan’s central bank, removal of energy subsidies in line with fiscal reform, increased inflows through remittances and exports and stabilization efforts under Pakistan’s economic framework supported by global partners have all come together to support the stabilization efforts.
At Monday’s meeting with Finance Minister Muhammad Aurangzeb, Linda Rudo Munyengeterwa, IFC Global Director for Public Private Privatization & Corporate Finance, reiterated the international financial institution’s commitment to “supporting the country’s macroeconomic reform, investment, and privatization initiatives.”
“The delegation conveyed that they had come to Pakistan with an open mind, intending to explore the market and engage with key government stakeholders to identify potential areas for investment,” the finance ministry said in a statement.
“IFC’s extensive global experience across various sectors, including infrastructure, energy, transport, public finance, and privatization, was highlighted as a valuable asset that could be leveraged to support Pakistan’s development agenda.”
The delegation emphasized their readiness to partner with Pakistan in “exploring viable opportunities for collaboration and investment,” the statement added.
Recognizing the fiscal challenges in managing public finances and meeting the country’s expanding development needs, Aurangzeb stressed the importance of utilizing the expertise and financial resources of international institutions like the IFC through public-private partnerships.
“He affirmed that such collaborations could facilitate the implementation of essential reforms and enhance efforts to develop efficient energy, transport, and infrastructure systems in response to the demands of a growing population,” the statement added.
The IFC delegation also called on Minister for Power Sardar Awais Ahmed Khan Leghari in Islamabad on Monday and discussed “promoting private investment in the energy sector through Public Private Partnership models,” Radio Pakistan reported.
Leghari appreciated the role of the IFC in introducing modern technology for investment in the energy sector.
“Demand and pricing are our major problems, and we are thankful for IFC’s guidance for sustainable solutions,” Radio Pakistan reported the minister as telling the IFC delegation.
“Appreciating the IFC’s technical expertise and global experience, the Minister said the government is committed to provide a conducive environment to investors.”
The report said the IFC expressed its willingness to support the power ministry’s digital meterization policy and offered to assist in policy formulation and reforms.
The delegation presented examples of successful models in Brazil, Peru, Colombia and India where increased investment, integration of renewable energy and open access had been promoted.
“It is important for Pakistan to learn from international experiences for the right strategy,” the report said. “The meeting agreed that cooperation will be further promoted in the future and joint efforts will be implemented in various energy projects.”
Gulf nations among 20 in Pakistan for army ‘team spirit’ exercise
- Director General Military Training opened 60-hours long patrolling exercise on Monday
- Saudi Arabia, Qatar, Bahrain, Belarus, Egypt, China, Turkiye, US attending exercise
ISLAMABAD: The 8th International Pakistan Army Team Spirit Exercise 2025 kicked off at the National Counter Terrorism Center in Pabbi this week, Radio Pakistan reported, with participation by 20 countries.
Director General Military Training opened the 60-hours long ‘patrolling exercise’ on Monday, aiming to enhance military-to-military cooperation.
A total of 20 friendly countries and military observers are participating in the exercise, including Saudi Arabia, Qatar, Bahrain, Belarus, China, US, Egypt, Maldives, Morocco, Nepal, Sri Lanka, Turkiye, Uzbekistan, Bangladesh, Germany, Indonesia, Kenya, Myanmar, South Africa and Thailand.
“Pakistan Army Team Spirit is a mission-specific and task-oriented professional military exercise organized annually in Pakistan,” Radio Pakistan said.
“The exercise calls for highest standard of physical fitness, mental agility, robustness and professional military expertise for quick decision making in varied situations during conduct of challenging missions in a near real environment.”
The exercise is meant to help hone “basic soldierly attributes and interoperability through the sharing of innovative ideas and mutual best practices.”
US weapons abandoned in Afghanistan were used in Pakistan train hijacking last month — report
- Militants held hundreds of passengers hostage in southwestern Pakistan last month, killing 31 soldiers, staff and civilians
- Pakistan has voiced its concerns over presence of advanced US weapons in Afghanistan, which Washington wants returned
ISLAMABAD: Militants used weapons abandoned by US forces in Afghanistan during a deadly train hijacking last month in southwestern Pakistan, a report by international newspaper “The Washington Post” said on Monday.
Pakistan has voiced its concerns over the presence of advanced US weapons in Afghanistan which Washington has sought to be returned by Kabul’s Afghan Taliban rulers. Islamabad has urged the United Nations to recover these weapons, warning that militant groups such as the Tehreek-e-Taliban Pakistan (TTP) and the separatist Baloch Liberation Army (BLA) were gaining access to them.
BLA militants stormed the Jaffar Express train in Pakistan’s southwestern Balochistan province last month, holding hundreds of passengers hostage. The military said it killed 33 militants in a rescue operation that lasted over 24 hours. It said the hijacking killed 31 soldiers, staff and civilians.
As per the report, Pakistani officials gave The Post access to dozens of weapons in May that they said were seized from captured or killed militants. After months of inquiries, The Post said the US Army and the Pentagon confirmed that 63 weapons shown to reporters had been provided by the US government to Afghan forces.
“After the March 11 train attack by Baloch militants, which claimed at least 26 lives, Pakistani officials provided serial numbers for three US rifles allegedly used by the attackers,” the report said. “At least two came from US stocks and had been provided to Afghan forces, according to records obtained by The Post through the Freedom of Information Act.”
Of the 63 weapons shown by Pakistani officials, the post said most were M16 rifles, alongside several, more-modern M4 carbine models. It said Pakistani officials also displayed a handful of PVS14 night-vision devices, which are used throughout the American armed forces but could not be independently verified as former US government property.
It said these weapons left behind by American forces found themselves in the hands of militants after being traded along Pakistan’s porous border with Afghanistan at illicit weapons bazaars.
The Post cited a 2023 report by the Special Inspector General for Afghanistan Reconstruction, or SIGAR, which estimated in 2023 that when the Taliban took control of Afghanistan in August 2021, over $7 billion in American military equipment was still in the country.
The report said SIGAR concluded the US military had an uneven record of keeping track of weapons provided to the Afghans, which was exacerbated by its “abrupt and uncoordinated” withdrawal in 2021.
The report said SIGAR estimated more than a quarter-million rifles were left behind by US forces during their withdrawal from Afghanistan, enough to arm the entire US Marine Corps as well as nearly 18,000 night-vision goggles.
“Just after the Taliban takeover, the latest night-vision devices were sold at a scrap rate,” Raz Muhammad, a Pakistani weapons trader, was quoted by The Post.
The report quoted a Pakistan Army major, Zaheer Hassan, as saying that insurgents have paired night vision and thermal equipment with small drones to attack troops with more precision.
“The battle has become much more dangerous,” Hassan said, according to The Post.
Pakistan’s foreign office said this month that US Secretary of State Marco Rubio agreed during a telephonic conversation with Pakistan’s deputy prime minister on the need to resolve the issue of US Military equipment left behind in Afghanistan.
Pakistan has struggled to contain surging militancy in its western regions that border Afghanistan in recent years, with Islamabad accusing Kabul of sheltering and supporting militant groups that launch cross-border attacks. Afghan officials deny involvement and insist that Pakistan’s security issues are an internal matter of Islamabad.
PSL 2025: Explosive Farhan smashes century as Islamabad thump Peshawar by 102 runs
- Sahibzada Farhan smashes 106 runs from 52 balls, hitting 13 fours and five sixes in his innings
- Islamabad United’s Imad Wasim returns figures of 3/26, Shadab Khan 2/29, Ben Dwarshuis 2/23
ISLAMABAD: Defending champions Islamabad United defeated Peshawar Zalmi by a mammoth 102 runs on Monday, driven by an explosive century by right-handed batter Sahibzada Farhan as the two sides faced each other in their Pakistan Super League (PSL) 2025 clash at Rawalpindi.
United batted first, scoring an impressive 243/5 from their 20 overs. Their innings was led by opener Farhan, who smashed 106 runs from 52 balls, hitting 13 fours and five sixes. Colin Munro contributed with a quickfire 40 from 27 balls while Salman Ali Agha scored a 30-run knock from 15 balls.
Zalmi bowlers Hussain Talat and Azarri Joseph each grabbed two wickets.
“Credit goes to Sahibzada Farhan for his hard work behind the scenes,” United skipper Shadab Khan said at the post-match conference. “When you don’t perform, we will judge you as if you haven’t done the hard work. But he did play for Pakistan in and out for some time, he did the right stuff, and eventually it has come out.”
It was yet another disappointing day for Zalmi skipper Babar Azam, who was caught by Holder off a Ben Dwarshuis delivery after scoring only one run. In-form opener Saim Ayub failed to make a dent, falling for six runs while Mitchell Owen made only 10 before he was dismissed by Imad Wasim.
Only Zalmi middle-order batter Mohamamd Haris impressed, scoring 87 runs from 47 balls but the rest of the batters such as Tom Kohler-Cadmore, Talat and George Linde all fell cheaply to trigger a Zalmi batting collapse.
Former Karachi Kings captain Wasim was instrumental in Zalmi’s fall, returning figures of 3/26 from his four overs while Khan and Dwarshuis both took two wickets each. Holder and Naseem Shah each took a single wicket as Zalmi were bowled out for 141 in 18.2 overs.
Farhan was awarded the Player of the Match award.
Police recover bodies of 2 kidnapped constables in northwest Pakistan amid surging militancy
- Constables Hameed Shah, Ashraf Dotani were kidnapped by unidentified gunmen from their homes in South Waziristan district, say police
- In separate incident, seven laborers injured in bomb blast targeting under-construction building of Rescue 1122 in northwestern Tank district
PESHAWAR: The bodies of two kidnapped constables were recovered from a deserted area in northwestern Pakistan on Monday, a police spokesperson said, as the country struggles to contain surging militancy in Khyber Pakhtunkhwa (KP) province.
Constables Hameed Shah and Ashraf Dotani were kidnapped by unidentified gunmen in Wana town in South Waziristan district on Saturday, police spokesperson Habib Islam said. Members of the Dotani tribe chased the gunmen, trading fire with them. Three militants were killed while two, including a local tribesman and a girl, were injured during the clash.
“The martyred personnel were kidnapped two days ago from their homes in Tui Khula, a locality on the outskirts of Wana, the main town in the district,” Islam told Arab News.
No group has so far claimed responsibility for the incident, but suspicion is likely to fall on the outlawed Tehreek-e-Taliban Pakistan (TTP) outfit or the Pakistani Taliban. The TTP has carried out some of the deadliest attacks against Pakistani law enforcers since 2007.
The banned unit has increased its attacks on Pakistani law enforcers since November 2022, when a fragile truce between the state and the TTP broke down. Pakistan blames neighboring Afghanistan for providing sanctuary to TTP militants, a charge Kabul vehemently denies.
In a separate incident, seven laborers were injured in the northwestern Tank district on Monday when a bomb blast targeted the under construction building of a prominent rescue emergency service, police said.
Tank police spokesperson Younas Khan said the explosion struck an under-construction Rescue 1122 building located in Wazirabad area in Tank.
Rescue 1122 teams responded quickly, shifting the injured to the District Headquarters (DHQ) Hospital for medical treatment, Khan said. Following the incident, a large contingent of police and security forces cordoned off the area and launched a search operation to trace those responsible for the blast, he said.
