PAIR Investment Company Limited

PAIR Investment Company Limited (PICL) is a joint venture development finance institution (DFI) formed through an agreement between the Governments of Pakistan and Iran. Incorporated in January 2007, PAIR was created to promote economic and social development by financing commercially viable projects that may not be fully served by traditional financial institutions.

The company operates under the regulatory oversight of the State Bank of Pakistan and focuses on sectors such as textiles, sugar, telecommunications, rice, steel, energy, tyres, and financial services. Its lending strategy emphasizes conservative, sustainable profit streams, avoiding high-risk spread-based transactions. PAIR also engages in capital and money market operations, investment banking activities, and SME financing through its offices in Karachi and Lahore.

Ownership is equally split between the two governments, with the Ministry of Finance (Pakistan) and the Iran Foreign Investment Company (IFIC) managing their respective stakes. The board is composed of directors from both countries, and the company is currently led by Mr. Abbas Daneshvar, its Managing Director and CEO.