According to the bank website, "the proposed investment will support Packages Limited to: (i) debottleneck its flexible packaging and carton line operations; (ii) undertake certain resource efficiency measures identified by IFC Advisory Services to conserve energy and water usage; and (iii) increase investment in one of its overseas subsidiaries."
According to IFC, Packages was founded in 1957 by the Wazir Ali family, who is the key sponsor shareholder. The Ali family and associate companies holds about 54.49% in Packages. The balance is held by local institutional investors (10.92%), general public (21.56%), Stora Enso (6.04%) and foreign investors (6.99%).
Head of Packaging
Shahrah-e-Roomi, P.O. Amer Sidhu, Lahore-54760, Pakistan
ACCOUNTABILITY MECHANISM OF IFC
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