PAΪR Investment Company Limited (PICL) is an Investment Company formed as a result of a joint venture between the Governments of Pakistan and Iran. PICL came into existence in 2007 as a company operating in Pakistan registered under the Companies Ordinance, 1984 and classified as a “Development Finance Institution” (DFI) under the regulatory control of the State Bank of Pakistan.
PICL has an authorized capital of Rs. 10 billion and currently has a paid-up capital of Rs. 6 billion.
Presently, PICL’s main objective is to strengthen its team of professionals and this team-building effort is moving along at a satisfactory rate. Furthermore, our business plan approved by the Board requires a two-pronged approach to the business:
Establishing PICL as a viable and sustainable financial institution in Pakistan offering a range of financial services and products equivalent to our peer group of joint venture investment companies. In this regard, the Board has approved the establishment of three lines of business which are in line with standard financial institutional lines of business:
- Treasury and Investments
- Credit and Trade Finance Marketing
- Investment Banking
Positioning ourselves as an intermediary which enables and promotes the flow of investments from Iran into Pakistan. Within the ambit of this plan is Project Finance. PICL would like to focus its efforts on promoting such investments which fully exploit the fact that Iran and Pakistan share a common physical border as well as any infrastructure projects related to promoting the Pakistan‐Iran relationship.
Both Pakistan and Iran Board members have also recognized the opportunities for PICL to promote investment flows from Iran into Pakistan for various projects.