Interloop Limited (PSX: ILP) Chairperson Musadaq Zulqarnain has clarified rumors regarding the firm’s new project in Egypt.
In a statement on X, Zulqarnain the new project in Egypt is being mis portrayed by some as investment moving out of Pakistan. He clarified that this investment involves no capital outflows from Pakistan, it is fully financed through funds generated by our existing overseas operations, which is why it has never been referred to as an Interloop Limited (Pakistan) investment.
Zulqarnain also provided detail about the objectives of the project saying that it will give comfort to ILP’s global customers who want part of their supplies on shorter lead times, while retaining and growing their business in Pakistan.
Moreover, it will help capture business moving out of China that cannot be relocated to Pakistan but can be served competitively from Egypt.
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He also highlighted that in the past 4 years, ILP has invested $290 million in Pakistan, including $77 million in FY25 alone, despite a challenging environment.
For FY26, ILP has approved a further $45 million investment in Pakistan (partially on hold pending clarity on US tariffs). By comparison, the Egypt project is only $35 million over three years, a fraction of what we continue to invest at home.
“And this is only textiles. We are also tripling dairy production, expanding logistics, and scaling IT businesses, all in Pakistan.” he added.
Zulqarnain said Interloop believes in Pakistan. Our roots, our growth, and our future are here. Overseas ventures are about strengthening our global footprint, while Pakistan remains at the very core of our journey, he added.
