The International Finance Corporation (IFC) has announced a loan of up to $20 million to Novatex Limited, one of Pakistan’s leading producers and exporters of plastic packaging materials, to strengthen the country’s packaging industry and support export-oriented manufacturing. The investment also supports Pakistan’s transition toward more sustainable packaging production. Novatex operates PET recycling facilities and is expanding its recycled PET capacity, helping increase the use of recycled materials and promote circular economy practices. Novatex, established in 1991, is a major producer of PET resins, recycled PET, PET preforms and biaxially oriented PET films. IFC will also work with Novatex to strengthen its environmental and social management practices in line with IFC Performance Standards.