KARACHI, August 07, 2026 -- IFC today announced a loan of up to US$20 million to Novatex Limited (Novatex), one of Pakistan's leading producers and exporters of plastic packaging materials, to finance the import of essential raw materials and equipment to support the country's packaging industry.
Packaging materials are a critical input for Pakistan's export-oriented manufacturing sectors, including food processing, pharmaceuticals, and consumer goods. By supporting domestic production, IFC's investment will help sustain jobs, preserve export revenues, and strengthen the resilience of local supply chains. A stable domestic supply of plastic packaging also reduces the country's reliance on imports and protects downstream manufacturers from supply disruptions.
The investment also advances IFC's sustainability priorities. Novatex operates a large-scale PET recycling plants, and is expanding its recycled PET (rPET) capacity, supporting Pakistan's gradual transition toward a circular economy in the packaging sector. IFC will also help Novatex align its operations with IFC's Performance Standards on environmental and social management, further strengthening industry practices.
"Pakistan's long-term economic growth depends on sustaining competitive, export-oriented industries that create jobs, generate foreign exchange, and invest for the future. IFC's investment in Novatex will help sustain employment, support export competitiveness, and strengthen the resilience of a key manufacturing sector while advancing more sustainable production practices," said Wagner Albuquerque de Almeida, IFC Director for Manufacturing, Agribusiness and Services, Middle East and Central Asia.
“Novatex views IFC as a key financial partner for Pakistani corporates in general and for Novatex in particular. For Novatex this is the first step, and it looks forward to expanding this relationship,” said Rizwan Diwan, CEO Novatex Limited..
About Novatex Limited
Established in 1991, Novatex is the market leader across polyethylene terephthalate (PET) resins, recycled PET (rPET), PET preforms, and biaxially-oriented PET (BoPET) films, commanding over 65 percent of the domestic PET resin market and over 50 percent in each of its other segments. It is also Pakistan's largest non-textile exporter, supplying PET products to more than 40 countries, with an export base anchored by multinational clients. As part of its commitment to circularity, the Company has established 2 PET recycling plants capable of recycling two billion bottles annually. Through this combination of scale, export orientation, and sustainable production, Novatex supports industrial competitiveness, foreign exchange generation, and the transition toward a circular economy in Pakistan.
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2025, IFC committed a record $71.7 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.
Stay Connected with IFC on social media.
Contacts
Stay Informed
Sign up to have customizable news & updates sent to you.