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KARACHI: The government in Pakistan’s southern Sindh province is aiming to establish electric bus manufacturing plants in the region through Chinese assistance, it said on Monday, following a “successful” visit of President Asif Ali Zardari to China.

President Zardari, who is also the co-chairman of the ruling Pakistan Peoples Party (PPP) in Sindh, was on a ten-day visit to China this month, where he met Chinese political, business and industry leaders and oversaw the signing of a number of memorandums of understanding (MoUs) in diverse sectors.

Sindh Information Minister Sharjeel Inam Memon said the discussions during the president’s visit were aimed at expanding cooperation in energy, agriculture, solid waste management and other sectors, describing the visit as “highly successful” and saying that they would soon launch major projects in these sectors.

“Important meetings were held to discuss establishing manufacturing plants in Sindh for the production of electric and regular buses,” Memon was quoted as saying by the provincial information department. “This step will not only improve travel facilities but also create local employment opportunities.”

The development comes months after Pakistan unveiled an ambitious New Electric Vehicle Policy (NEVP) 2025–2030 that targets 30 percent of all new vehicle sales to be electric by 2030, according to Pakistani state media. The policy, which covers cars, buses, motorcycles and rickshaws, aims to accelerate the country’s shift toward sustainable transport, reduce fossil fuel dependence, and curb climate-warming emissions.

Beijing is Pakistan’s largest trading partner, with bilateral trade topping $25 billion in recent years, while Chinese firms have also invested heavily in Pakistan’s power, transport, infrastructure, telecommunication and other projects.

During the recent visit, both sides agreed to deepen cooperation in agriculture, environmental protection, mass transit, trade, culture and people-to-people exchanges, according to President Zardari’s office.

Memon said Chinese investors had shown “strong interest” in the Dhabeji Special Economic Zone in Sindh where new industries will be established that will create jobs for youth.

“President Zardari, during his China visit, particularly stressed the need to set up more industries to boost Pakistan’s economy and to train local manpower in China so they can secure employment opportunities,” he added.

KARACHI: Pakistani Shariah-compliant Lucky Investments Limited announced on Monday it has crossed the Rs100 billion [$350 million] mark in Assets Under Management (AUM) within only six months of launching its fund, making it the first assets management company firm to achieve the feat. 

Lucky Investments, a subsidiary of Pakistan’s Lucky Group, focuses on investment and portfolio management across sectors like energy, real estate and manufacturing. Originally known as Interloop Asset Management Limited, the company was acquired by Yunus Brothers Group in December 2024 and rebranded as Lucky Investments Limited.

AUM is the total market value of all the assets that a financial institution, such as a mutual fund or investment adviser, manages on behalf of its clients. In its statement, Lucky Investments said the company has received overwhelming response since its inception from both institutional and retail investors across the country.

“With their trust, we’ve reached PKR 100 Billion AUMs — a milestone that aligns with our vision of becoming the premier choice for Shariah-compliant investments,” Lucky Investments CEO Mohammad Shoaib said in a statement.

In April, the firm said it had successfully raised Rs50 billion ($170 million) during the Initial Public Offering (IPO) of its debut fund, the Lucky Islamic Money Market Fund, the largest ever mutual fund launch in Pakistan. 

“We remain committed to delivering world-class, Riba-free investment solutions, anchored in service excellence, transparency and trust,” Lucky Investments said in its press release. 

Lucky Investments said it was also planning to launch a Voluntary Pension Schemes to boost retail investor participation in retirement savings and is also coordinating with the government for a separate fund for its employees.

Lucky Investments’ achievement reflects the growing traction that Shariah-compliant investments are gaining in Pakistan, as investors seek ethical and faith-based financial solutions. 

Supported by a growing Islamic finance sector and regulatory backing from Pakistan’s Securities and Exchange Commission and the State Bank, the market continues to expand through mutual funds, sukuk and Islamic banking products.