Pakistan doubles number of scholarships for Sri Lankan students

Sri Lankan student Sihara Gunartne, who will pursue a medical degree at Karachi Medical and Dental College, receives her admission certificate from Pakistan High Commissioner Maj. Gen. (R) Umar Farooq Burki in Colombo on Oct. 15, 2022. (AN Photo)
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Updated 19 October 2022
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Pakistan doubles number of scholarships for Sri Lankan students

  • 396 Sri Lankan students were awarded Allama Muhammad Iqbal Scholarships this year, up from 200 last year
  • The educational opportunity is life-changing for many as their country’s future is uncertain amid economic crisis

COLOMBO: Pakistan has doubled the number of scholarships for Sri Lankan students since last year, offering nearly 400 prospective doctors, engineers and academics a chance to continue higher education as their country goes through its worst economic crisis in history.

The 396 recipients of the fully funded Allama Muhammad Iqbal Scholarships awarded by the Pakistan Higher Education Commission will soon join universities across Pakistan, as their documents began to be processed on Tuesday, officials at the High Commission of Pakistan in Sri Lanka said.

Among them, 50 students will pursue primary medical degrees, 50 engineering and 20 postgraduate degrees in sciences.

Pakistan’s High Commissioner Maj. Gen. (R) Umar Farooq Burki told Arab News the scholarships were aimed at strengthening ties between the two countries.

“We came to offer these scholarships because of the strong bilateral relations maintained with friendly Sri Lanka,” he told Arab News.

The island nation of 22 million people has been reeling from the worst financial crisis since independence from Britain in 1948 with Sri Lankans facing acute shortages of basic goods that have sparked unprecedented protests and forced a change in government since the beginning of the year.

“We are thankful to Pakistan for this magnanimity which helps us to get our youths qualified in much-needed sectors,” Sri Lanka’s Honorary Consul General for Pakistan, Afzal Marikar, told Arab News, saying 200 Sri Lankan students were awarded the scholarship last year.

For many who will begin their studies in Pakistan, the opportunity is life changing as the future of their own country remains uncertain.

“I cannot afford higher studies in medicine,” said Haleem Faiz, who was selected for a Bachelor of Medicine degree, and wants to become a cardiologist in the future. “This scholarship is a godsend for me.”

Sihara Gunaratne, who will study at Karachi Medical and Dental College, said she was grateful she would be able to join the prestigious institution.

“It’s a fully funded scholarship, which includes board lodging and the passage to and from Karachi,” she added.

Pakistani scholarships have for years helped Sri Lankans.

Hamdani Anver, director of tertiary care services at the Ministry of Health, told Arab News he was able to reach his current position because of the educational opportunity offered by the Pakistan government.

“I completed my medical degree in a university in Pakistan,” he told Arab News. “I am what I am today because of the comprehensive education I got from here.”


Pakistan’s Engro executes $475 million Islamic financing deal to expand telecom infrastructure

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Pakistan’s Engro executes $475 million Islamic financing deal to expand telecom infrastructure

  • Islamic banking accounts for over a fifth of Pakistan’s banking assets amid a shift toward Shariah-compliant finance
  • The deal brings more than 10,000 telecom towers under Engro’s control, enabling their shared use by multiple operators

KARACHI: Pakistan’s largest conglomerate Engro Corp. has completed a Rs133 billion ($475 million) Islamic financing deal to acquire telecom tower company Deodar, expanding its telecom infrastructure business as the country seeks to strengthen digital connectivity, the company said on Friday.

The transaction, structured entirely through Shariah-compliant financing, brings more than 10,000 telecom towers under Engro’s control and marks one of the largest Islamic financing deals in Pakistan’s infrastructure sector.

Engro, which has major interests in energy, fertilizers, food and petrochemicals, said the acquisition would allow it to scale shared telecom infrastructure, under which a single tower can host multiple mobile network operators, lowering costs and reducing duplication as Pakistan prepares for next-generation digital services.

“My congratulations to the Dawood family and Engro, the Islamic bankers and conventional banks through their Islamic windows on being able to put together a deal of this size,” State Bank of Pakistan Governor Jameel Ahmed said at a ceremony marking the transaction, referring to the company and its chairman. “This is a great achievement which has been supported by the banks.”

The deal was supported by a group of local banks, including United Bank Limited and Meezan Bank, Engro said, highlighting the increasing role of Islamic financing in funding long-term investment in Pakistan.

Islamic banking, which operates without interest and is based on profit-and-loss sharing structures, accounts for more than a fifth of Pakistan’s banking assets, and authorities have said they aim to transition the financial system toward Shariah compliance over the coming years.

The acquisition of Deodar, which was originally carved out of mobile operator Jazz, also aligns with government efforts to digitize the economy by expanding broadband access and supporting digital payments, e-commerce and online public services, though progress has remained uneven due to infrastructure and regulatory challenges.