Greener Pakistan

CoRe (Collect and Recycle) is the first multi-stakeholder packaging alliance in Pakistan, which envisions creating a circular economy, according to a letter issued by the organisation to the government. It was established by leading like-minded industry players, non-governmental organisations, packaging companies and recyclers to eliminate packaging waste through collective action.

Modern life — shaped by advancements in technology, healthcare, food security, and global Connectivity — has been made possible in large part through the development of plastics, including packaging, the letter said. However, this progress has also led to significant amounts of plastic waste, much of which ultimately enters the environment, causing a wide range of environmental, health, and social challenges.

Addressing this issue and moving toward a circular economy requires substantial public investment in formal waste collection and recycling systems. In this regard, the government plays a critical role in establishing an effective policy framework and creating an enabling environment that supports sustainable and innovative waste management practices.

The annual budget 2026-27 is an opportunity to introduce financial measures to move towards a resilient circular economy and the creation of green jobs. In this regard, the CoRe Alliance requests access to green financing to promote waste collection and recycling. Other recommendations include a five-year tax holiday for new and existing collection and recycling projects across Pakistan,

CoRe also encourages the introduction of tax rebates and financial incentives for companies that achieve specific recycling targets or produce packaging made from recycled materials, and the exemption of sales tax, customs duty, and a zero-tariff regime for the import of equipment for recycling projects.

Among its recommendations are exempting GST on waste sorting, collection, and recycling services to formalise the informal sector, and abolishing the duty on reverse vending machines for the collection of plastic packaging waste. Lastly, it encourages the incentivisation of the plastic to fuel industry/infrastructure.

Such measures will contribute to Pakistan’s climate reform agenda.

Cleaning beaches

BankIslami partnered with WWF Pakistan for a mangrove plantation drive and beach-cleaning and preservation activities at the WWF Wetland facility to commemorate World Environment Day, as per a press release. This initiative is part of the bank’s ongoing efforts, aligned with its Green Office Certification and its commitment to promoting sustainable, environmentally responsible practices.

The activity took place at WWF Pakistan’s Wetland Centre along Karachi’s coastline. During the activity, the team planted Avicennia saplings, a mangrove species known for its role in coastal protection and marine biodiversity. The event also included an awareness session on mangrove species and their benefits to the ecosystem.

WWF Pakistan also highlighted the threats posed by water pollution to marine species like green turtles and the importance of maintaining a clean environment. BankIslami employees participated in a beach cleaning activity to preserve the natural marine ecosystem.

“True prosperity for our communities and our nation can only be achieved through a future that is green, sustainable, and resilient,” commented Rizwan Ata, President & CEO of BankIslami.

New plant acquisition

The Competition Commission of Pakistan has approved the proposed acquisition of the liquid carbon dioxide plant of Pakistan Oxygen Limited by Pak Arab Fertilisers Limited, following a Phase-I review conducted under the Competition Act, 2010, as per a press release.

Pak Arab Fertilisers Limited submitted a pre-merger application to the Commission under Section 11 of the Competition Act, seeking approval to acquire Pakistan Oxygen Limited’s liquid carbon dioxide plant.

Pak Arab Fertilisers Limited, a wholly owned subsidiary of Fatima Fertiliser Company Limited, is engaged in the manufacturing, production, import, export and sale of fertilisers and chemicals. Pakistan Oxygen Limited is a longstanding industrial enterprise engaged in the manufacture of industrial and medical gases, welding electrodes and the marketing of medical equipment.

During its review, the Commission assessed the likely impact of the transaction on market structure, competition dynamics, and market concentration. The Commission observed that the transaction involves the acquisition of a specific production asset and constitutes a horizontal merger because both the acquiring group and the target operate in the same relevant market. However, the resulting increase in market share would be limited and would not materially alter competitive conditions in the market.

Published in Dawn, The Business and Finance Weekly, June 8th, 2026