The investment aims to bolster Pakistan’s packaging industry, a critical input for export-oriented sectors including food processing, pharmaceuticals, and consumer goods. By supporting domestic production, IFC said the loan will help sustain jobs, preserve export revenues, and strengthen the resilience of local supply chains. A stable domestic supply of plastic packaging also reduces Pakistan’s reliance on imports and protects downstream manufacturers from supply disruptions. Novatex operates large-scale PET recycling plants and is expanding its recycled PET (rPET) capacity, supporting Pakistan’s transition toward a circular economy in the packaging sector. IFC will also help Novatex align its operations with the corporation’s Performance Standards on environmental and social management.