October 31, 2025: LUMS and Habib Bank Limited (HBL) have signed an MoU to collaborate on developing commercial financing schemes for LUMS’ upcoming project, ‘Pakistan – Battery Swapping Network’.

The initiative aims to accelerate the adoption of electric three-wheelers in Pakistan by introducing flexible and accessible financing options. Through this collaboration, both institutions seek to drive the transition toward cleaner, emission-free transport solutions and contribute to improving air quality across urban centres.

Beyond reducing emissions, the project aligns with Pakistan’s climate change mitigation commitments under the Paris Climate Agreement and the country’s Nationally Determined Contributions (NDCs).

The signing ceremony was held at LUMS and was attended by senior representatives from both organisations, including Omer Mallick, Product Head SME, HBL, and Dr. Tariq Mahmood Jadoon, Provost, LUMS, along with team members from the LUMS Energy Institute (LEI) and HBL’s SME division.

Speaking on the occasion, Dr. Naveed Arshad, Director, LEI emphasised the project’s role in catalysing private sector investment in electric vehicle (EV) charging infrastructure. He noted, “This project has the potential to demonstrate the strong techno-economic viability of electric three-wheelers compared to their internal combustion engine-based counterparts, serving as a catalyst for the transformation of Pakistan’s road transportation sector towards EVs.”

Dr. Tariq Mahmood Jadoon highlighted the university’s continued leadership in EV research and innovation, stating, “LUMS has established the eMobility Research and Development Centre—the first-of-its-kind facility in Pakistan for testing and characterisation of EV batteries, motors, and other components. The centre provides critical support to the emerging EV industry and will play a key role in advancing our upcoming project, Pakistan – Battery Swapping Network.”

Expressing HBL’s commitment to enabling sustainable finance and innovation, Omer Mallick, Product Head SME at HBL, shared, “We are delighted to partner with LUMS on this pioneering initiative. Through the Mitigation Action Facility’s support for a first-loss guarantee, HBL will be able to offer subsidised and convenient financing options to private sector players and SMEs, facilitating the rollout of EV charging infrastructure across Pakistan.”

This collaboration represents a significant step toward developing Pakistan’s electric mobility ecosystem by bridging the gap between research, innovation, and accessible financing.

In a significant step toward nurturing Pakistan’s future leaders, DWP Group has signed a Memorandum of Understanding (MoU) with the National University of Sciences and Technology (NUST) to support higher education for deserving students.

Under this partnership, DWP Group will sponsor scholarships for talented and deserving students, covering their complete undergraduate degree programs from September 2025 to August 2029. This initiative reflects DWP Group’s strong commitment to promoting education, equality of opportunity, and socio-economic development in Pakistan.

The MoU was formally signed between Sabah-ud-Din, representing DWP Group, and Arooba Gillani, Director of Advancement at NUST, in a ceremony held at the university campus.

Speaking on the occasion, Sabah-ud-Din, representing DWP Group, said, “At DWP Group, we believe that education is the foundation of progress and empowerment. By supporting talented students who face financial barriers, we aim to create opportunities that help shape Pakistan’s next generation of innovators and leaders. Our partnership with NUST is a reflection of our long-term commitment to nation-building through knowledge and inclusion.”

Muhammad Farooq Naseem, Chairman & CEO of DWP Group, said, “This collaboration with NUST is part of DWP’s mission to give back to society by investing in human potential. We are proud to support bright students who have the passion and capability to excel but lack financial means. Through this initiative, we hope to inspire a culture of educational empowerment that drives long-term national progress.”

This collaboration aligns with DWP Group’s broader vision of investing in youth development and fostering a culture of learning, innovation, and social responsibility. Through this initiative, the company continues to play its part in empowering Pakistan’s youth to make meaningful contributions toward a brighter and more sustainable future.