InfraZamin Pakistan Limited, in collaboration with Infralectric Private Limited, Dubai Islamic Bank Pakistan Limited, Bank Alfalah Limited, and Meezan Bank Limited, has announced the signing of Pakistan’s first-ever PKR 3 billion, AAA-rated Green Sukuk for the telecom sector, marking a major step in sustainable financing.
Under the agreement, InfraZamin is providing a 100 percent principal guarantee for the sukuk issued by Infralectric, while Dubai Islamic Bank Pakistan acts as the lead arranger. The transaction highlights the growing role of ethical and Islamic finance in supporting climate-aligned infrastructure projects.
Moreover, the proceeds will fund one of Pakistan’s largest commercial deployments of lithium-ion Battery Energy Storage Systems and solar solutions for telecom tower infrastructure nationwide. The offering witnessed strong investor interest and was oversubscribed, with initial disbursement expected after completion of formalities.
Speaking on the occasion, CEO Maheen Rahman said the initiative demonstrates how credit enhancement can unlock private capital for green infrastructure and strengthen debt capital markets. Similarly, Bilal Qureshi noted that the project would accelerate energy transition, reduce diesel reliance, and support a more resilient telecom network.
Meanwhile, banking leaders, including Muhammad Ali Gulfaraz, Atif Bajwa, and Syed Tanveer Hussain emphasized the role of Islamic finance in bridging infrastructure gaps and promoting environmentally responsible investments.
Pakistan’s telecom sector, serving nearly 190 million users across more than 50,000 tower sites, remains energy intensive. Therefore, the project will deploy solar power, battery storage, and AI-enabled systems across around 1,955 sites, aiming to cut emissions, lower costs, and reduce dependence on diesel fuel.
