Pakistani asset management firm launches Shariah-compliant energy fund amid reforms

An undated image of logo of Lucky Investments taken from its website.
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Updated 01 January 2026
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Pakistani asset management firm launches Shariah-compliant energy fund amid reforms

  • Lucky Investments Limited says fund will invest across oil, gas, power and renewables
  • Product targets long-term investors as Pakistan’s energy sector reforms gain traction

KARACHI: A Pakistan-based asset management company on Thursday announced the launch of a Shariah-compliant energy equity fund, seeking to tap growing investor interest in the country’s energy sector as the administration in Islamabad pursues gradual reforms to boost supply, efficiency and sustainability.

Lucky Investments Limited’s initiative comes as Pakistan’s energy sector shows signs of renewed activity, driven by rising demand, policy initiatives and an increasing shift toward renewable sources, even as the country continues to grapple with high costs and supply constraints.

Islamic finance has also expanded steadily in Pakistan, creating demand for sector-focused investment products that comply with religious principles.

The Lucky Islamic Energy Fund (LIEF) will invest primarily in Shariah-compliant, listed energy companies across oil and gas exploration and production, refining, power generation and renewable energy, the company said, with the aim of long-term capital growth.

“The energy sector remains central to Pakistan’s economic revival and long-term sustainability,” Mohammad Shoaib, chief executive officer of Lucky Investments Limited, said, adding the fund would give investors a Shariah-compliant way to participate in the sector while aligning investments with faith-based values.

The open-end fund is benchmarked against the KMI-30 Index, which tracks the 30 largest Shariah-compliant companies listed on the Pakistan Stock Exchange, and is classified as high-risk, making it suitable for investors with a long-term investment horizon.

The fund carries no minimum holding period or redemption penalty.

Lucky Investments said all investments would be overseen by a religious scholar serving as the firm’s Shariah adviser to ensure ongoing compliance with Islamic principles.

The asset manager said it currently manages more than Rs 130 billion ($460 million) in assets under management, positioning it among the fastest-growing asset management companies in the country in 2025.
 


Imran Khan’s party shutdown draws mixed response; government calls it ‘ineffective’

Updated 14 min 48 sec ago
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Imran Khan’s party shutdown draws mixed response; government calls it ‘ineffective’

  • Ex-PM Khan’s PTI party had called for a ‘shutter-down strike’ to protest Feb. 8, 2024 general election results
  • While businesses reportedly remained closed in Khyber Pakhtunkhwa, they continued as normal elsewhere

ISLAMABAD: A nationwide “shutter-down strike” called by former prime minister Imran Khan’s party drew a mixed response in Pakistan on Sunday, underscoring political polarization in the country two years after a controversial general election.

Khan’s Pakistan Tehreek-e-Insaf (PIT) opposition party had urged the masses to shut businesses across the country to protest alleged rigging on the second anniversary of the Feb. 8, 2024 general election.

Local media reported a majority of businesses remained closed in the Khyber Pakhtunkhwa (KP) province, governed by the PTI, while business continued as normal in other provinces as several trade associations distanced themselves from the strike call.

Arab News visited major markets in Islamabad’s G-6, G-9, I-8 and F-6 sectors, as well as commercial hubs in Rawalpindi, which largely remained operational on Sunday, a public holiday when shops, restaurants and malls typically remain open in Pakistan.

“Pakistan’s constitution says people will elect their representatives. But on 8th February 2024, people were barred from exercising their voting right freely,” Allama Raja Nasir Abbas Jafri, the PTI opposition leader in the Senate, said at a protest march near Islamabad’s iconic Faisal Mosque.

Millions of Pakistanis voted for national and provincial candidates during the Feb. 8, 2024 election, which was marred by a nationwide shutdown of cellphone networks and delayed results, leading to widespread allegations of election manipulation by the PTI and other opposition parties. The caretaker government at the time and the Election Commission of Pakistan (ECP) both rejected the allegations.

Khan’s PTI candidates contested the Feb. 8 elections as independents after the party was barred from the polls. They won the most seats but fell short of the majority needed to form a government, which was made by a smattering of rival political parties led by Prime Minister Shehbaz Sharif. The government insists the polling was conducted transparently and that Khan’s party was not denied a fair chance.

Authorities in the Pakistani capital deployed a heavy police contingent on the main road leading to the Faisal Mosque on Sunday. Despite police presence and the reported arrest of some PTI workers, Jafri led local PTI members and dozens of supporters who chanted slogans against the government at the march.

“We promise we will never forget 8th February,” Jafri said.

The PTI said its strike call was “successful” and shared videos on official social media accounts showing closed shops and markets in various parts of the country.

The government, however, dismissed the protest as “ineffective.”

“The public is fed up with protest politics and has strongly rejected PTI’s call,” Pakistan’s Information Minister Attaullah Tarar said on X.

“It’s Sunday, yet there is still hustle and bustle.”

Ajmal Baloch, All Pakistan Traders Association president, said they neither support such protest calls, nor prevent individuals from closing shops based on personal political affiliation.

“It’s a call from a political party and we do not close businesses on calls of any political party,” Baloch told Arab News.

“We only give calls of strike on issues related to traders.”

Khan was ousted from power in April 2022 after what is widely believed to be a falling out with the country’s powerful generals. The army denies it interferes in politics. Khan has been in prison since August 2023 and faces a slew of legal challenges that ruled him out of the Feb. 8 general elections and which he says are politically motivated to keep him and his party away from power.

In Jan. 2025, an accountability court convicted Khan and his wife in the £190 million Al-Qadir Trust land corruption case, sentencing him to 14 years and her to seven years after finding that the trust was used to acquire land and funds in exchange for alleged favors. The couple denies any wrongdoing.