Nestlé Announces USD 60 Million Additional Investment in Pakistan at WEF Business Roundtable

Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, chaired a high-level Business Roundtable on the sidelines of the World Economic Forum (WEF) Annual Meeting in Davos, bringing together Chief Executive Officers and senior leaders of leading global corporations to discuss Pakistan’s reform trajectory, investment climate, and long-term growth potential.

The roundtable formed part of the Government of Pakistan’s ongoing engagement with multinational investors to promote policy predictability, economic formalization, and sustainable, export-oriented growth.

A significant highlight of the discussion was the announcement by Mr. Remy Ejel, Executive Vice President and Chief Executive Officer for Asia, Oceania, and Africa at Nestlé, of an additional investment of USD 60 million in Pakistan. Mr. Ejel stated that Nestlé will undertake a robust expansion of its operations in the country, reaffirming its long-term commitment to Pakistan.

He further announced that Nestlé intends to use Pakistan as a regional manufacturing and export hub, exporting products to 26 countries from Pakistan. Expressing strong confidence in Pakistan’s economic outlook, Mr. Ejel foresaw robust growth in Nestlé’s business in Pakistan in the coming years.

The announcement builds on Nestlé’s recent engagement with the Finance Minister in Islamabad, where the company had outlined its strategy centered on localization, advanced manufacturing, sustainability, and agricultural transformation. Nestlé has made significant progress in technology-driven manufacturing, with highly automated facilities, expanded use of renewable energy, improved packaging solutions, and digitized supply chains, strengthening efficiency while reducing environmental impact.

Fitch affirms Pakistan’s debt ratings

Fitch Ratings, one of the world’s top three agencies, affirmed Pakistan’s long-term debt ratings at ‘B-’ (B-negative), which it had upgraded in April last year, and assigned a Recovery Rating of ‘RR4’ following the removal of the ratings from Under Criteria Observation (UCO).

In a statement issued from its regional office in Hong Kong, the agency said the rating actions reflect the application of Fitch’s new Sovereign Rating Criteria, effective September 2025, and the inclusion of recovery assumptions into sovereign debt ratings for the first time.

The recovery rating RR4 denotes ‘average’ recovery expectation from default in a scale of six categories, starting from RR1 for outstanding, RR2 for superior, RR3 for good, and RR4 for average. RR5 follows this for below average, and RR6 for poor.

The senior unsecured long-term debt ratings of Pakistan and The Pakistan Global Sukuk Programme Company Ltd are equalised with Pakistan’s Long-Term Foreign-Currency Issuer Default Rating (IDR), reflecting Fitch’s expectation of average recovery prospects in a default scenario, given Pakistan’s high levels of general government debt and interest payments as a percentage of revenue, and the absence of any other clearly identifiable criteria factors that would cause us to notch the debt ratings up or down from the IDR.

On April 15, 2025, Fitch upgraded Pakistan’s Long-Term Foreign-Currency IDR to ‘B-’ with a stable outlook, from ‘CCC+’. In terms of environmental, social, and governance (ESG) key rating drivers for the Long-Term Foreign-Currency IDR and, in turn, the debt ratings, Pakistan has an ESG Relevance Score of ‘5’ for political stability and rights and for the rule of law, institutional and regulatory quality, and control of corruption, as is the case for all sovereigns.

Pakistan, Bangladesh step up military engagement

Air Chief Marshal Hasan Mahmood Khan, Chief of Air Staff, Bangladesh Air Force, called on Field Marshal Syed Asim Munir, NI (M), HJ, COAS & CDF, at General Headquarters (GHQ), Rawalpindi, in January.

According to a press release issued by the Inter-Services Public Relations (ISPR), during the meeting, matters of mutual interest, regional security dynamics, and avenues for enhancing bilateral defence and military cooperation were discussed. Both sides underscored the importance of strengthening professional collaboration, training exchanges, and defence ties between the Armed Forces of Pakistan and Bangladesh. The visiting dignitary lauded the professionalism of the Pakistan Armed Forces and appreciated their contributions towards regional peace and stability. The COAS & CDF reiterated Pakistan’s commitment to fostering enduring defence relations with Bangladesh.

The meeting concluded, reflecting the longstanding and strong bonds between the two brotherly countries. Also, Chief of Air Staff, Bangladesh Air Force, Air Chief Marshal Hasan Mahmood Khan, called on Admiral Nav­eed Ashraf, NI, NI (M), T Bt, Chief of the Naval Staff, at Naval Headquarters, Islam­abad. Upon arrival at Naval Headquarters, the visiting dignitary was received by the Chief of the Naval Staff.

During the meeting, matters of mutual professional interest, evolving regional security paradigm, and avenues for further strengthening bilateral defence cooperation were discussed. Naval Chief highlighted Pakistan Navy’s commitment to regional maritime peace and stability through its various initiatives. Air Chief Marshal Hasan Mahmood Khan acknowledged the high professional standards of the Pakistan Navy and expressed his desire to enhance collaboration between the two brotherly nations’ armed forces. The dignitaries agreed on the importance of increasing the frequency of high-level exchanges and joint training exercises to foster greater synergy. The visit of the Bangladesh Air Chief underscores the deepening defence ties between Pakistan and Bangladesh, following the significant visit of Admiral Naveed Ashraf to Dhaka in late 2025.

Two Pakistanis elected mayor, deputy mayor in Cambridge city

Two Pakistani Muslims have achieved a historic milestone by being elected Mayor and Deputy Mayor of Cambridge, Massachusetts, highlighting growing diversity in US local politics.

Sumbul Siddiqui, a Karachi-born lawyer, was elected mayor for the 2026–27 term, marking her third tenure and reaffirming her status as the first Muslim and Asian woman to hold the office.

Burhan Azim, an MIT-trained engineer from Burewala, was elected deputy mayor, becoming the youngest city councillor in Cambridge’s history.
First elected in 2017, Siddiqui previously served two mayoral terms, while both leaders’ victories are being celebrated as a major step forward for Pakistani-American representation and inclusion in American governance.

Ambreen Jan becomes the first woman to head PEMRA

Ambreen Jan has been selected as the new chairperson of the Pakistan Electronic Media Regulatory Authority (PEMRA), becoming the first woman to head the electronic media regulator.

A former Grade-22 officer and a former federal secretary for information, Ambreen Jan brings decades of administrative and policy experience to the position. In addition to serving as secretary of information, she has held several key posts, including director general of Radio Pakistan and managing director of PTV. She also served as press counsellor in Dhaka, Bangladesh, during the period of strained bilateral relations from 2011 to 2018. A graduate of Kinnaird College in Lahore, she has been awarded the Sitara-i-Imtiaz by the government.

Ambreen Jan was among five shortlisted candidates considered for the post, along with retired Brigadier Anwar Ahmed, Mateen Haider, Irfan Ashraf, and Dr Hamid Khan.

Chief marketing and brand officer

The Walt Disney Company has announced the creation of a new enterprise-wide marketing and brand organisation and named Pakistan-born executive Asad Ayaz as its first chief marketing and brand officer, a role that will place him among the most senior leaders at the global entertainment giant.

Ayaz, who was born in Pakistan in 1978, spent part of his childhood in the Middle East when his father served as Pakistan’s ambassador to Syria and Lebanon, before immigrating with his family to the United States as a teenager.

Disney said the new organisation is aimed at aligning marketing teams across its businesses more closely and strengthening how the company connects with consumers worldwide.

In his new role, Ayaz will lead marketing and brand strategy across Disney’s studios, streaming platforms, theme parks, and consumer products.
Ayaz’s appointment adds him to a small but growing list of senior executives of Pakistani origin holding top leadership positions at major US corporations.

Pakistan-born surgeon appointed chief AI officer at Carle Illinois

Adil Haider, Pakistan-born surgeon-scientist and academic leader, has been appointed the inaugural Chief Artificial Intelligence Officer at the Carle Illinois College of Medicine, a US medical school designed from its inception to integrate engineering, medicine, and data science.

Carle Illinois, jointly operated by the University of Illinois Urbana-Champaign and Carle Health, is widely described as the world’s first engineering-based medical school, with a curriculum that embeds computational thinking, systems engineering, and innovation into physician training. The appointment reflects a growing push by academic medical institutions to formally embed artificial intelligence into education, research, and clinical practice.

“By establishing the role of chief AI officer, Carle Illinois is signaling that artificial intelligence is not peripheral, but foundational to the future of medicine,” CI MED Dean Mark Cohen said.