Pakistani coworking startup COLABS raises $3 million for domestic, Middle East expansion — CEO 

People attend a workshop at COLABS in Lahore, Pakistan, on November 12, 2020. (COLABS/Facebook)
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Updated 25 March 2022
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Pakistani coworking startup COLABS raises $3 million for domestic, Middle East expansion — CEO 

  • Startup aims to create shared workplaces for 100,000 entrepreneurs and freelancers in Pakistan in next five years
  • Founder says his company plans to launch overseas operations with the funding, mainly targeting the Middle East

KARACHI: COLABS, a Lahore-based startup helping entrepreneurs and freelancers build businesses through its shared spaces and technical support, has raised $3 million in a seed round for its expansion to other Pakistani cities and abroad, primarily the Middle East, company officials said on Friday. 
The round was led by Indus Valley Capital, Zayn Capital and Fatima Gobi Ventures. This is the first time these three leading Pakistan-focused venture capitals (VCs) are investing together in a startup. The round was also joined by Shorooq Partners, Kinnow Capital, Muir Capital, Sai Ventures, and some key angels, including Turner Novak, Ali Yarali, William Hockey and Teddy Himler. 
COLABS was founded in 2019 by Omar Shah, a former private equity investor, and his twin brother Ali Shah, who operates a family-run real estate and construction firm SABCON, which is COLABS’ development partner for its facilities. The COLABS team also includes its chief operating officer (COO) Fatima Mazhar, one of the former executives at Careem who had helped the ride-hailing service make its mark in many international markets. 
“This is the first round of funding raised by the COLABS which would be utilized to expand operations in the country and abroad,” Shah, the co-founder and CEO of COLABS, told Arab News. 
“With the investment raised, we target to create coworking spaces for a community of 100,000 entrepreneurs and freelancers in Pakistan in the next five years, starting with 10,000 members within the next two years. We have created around 1,200 seats and [are] targeting to move to Karachi and Islamabad later this year as part of the expansion plan.” 




The photo posted on August 30, 2020 shows people working at a coworking space built by Colabs in Lahore, Pakistan. (Photo courtesy: Colabs) 

By 2024, Shah informed, COLABS would move to launch its overseas operations, mainly targeting the Middle East market. He, however, said that before going for international expansion, their major focus was on domestic operations for the growth of the startup ecosystem. 
“We have built a solid foundation to make it easy for freelancers, startups and even international companies which are eyeing Pakistan as potential destination,” he said. 
“With the capital we have received from leading Pakistani investors, we’re now looking to turn our offerings into software-based solutions and productized services that could also be extended to people and institutions outside of our network.” 
COLABS has created an impact by hosting more than 250 startup-related events annually since 2019, with an aggregate attendance of over 200,000 visitors, the shared workplace startup said in a statement. It has helped community members grow, hire the right talent, raise investment and thrive with the support provided by COLABS. 




In this undated photo, the logo for Colabs, a Pakistan coworking space operator, is seen on the company's headquarters in Lahore, Pakistan (Photo courtesy: Colabs)

“Coworking spaces are foundational businesses on which ecosystems are built. They build a community of talent which builds companies and from them communities become ecosystems and ecosystems become industries,” said Tamer Azer, a partner at technology investment firm Shorooq Partners, which operates from the United Arab Emirates (UAE), Saudi Arabia and Bahrain. 
“COLABS has quickly managed to center itself at the heart of Pakistan’s startup community and has built a phenomenal story that we are proud to support today and tomorrow as the company grows and creates the right infrastructure for Pakistan’s startup community.” 
COLABS started as a coworking platform with a state-of-the-art facility in Lahore, but has since evolved to offer several additional services and tools to entrepreneurs and freelancers, including SaaS solutions, payroll processing, educational bootcamps, business incorporation, talent sourcing and management, and legal and tax compliance. 
“The first time I visited COLABS, I found the community and energy to be a microcosm of the fast-growing Pakistani tech ecosystem,” Aatif Awan, founder and managing partner of the Indus Valley Capital, said. 
“We’re thrilled to partner with the COLABS team to help them build the leading platform and community that will power the growth of Pakistani tech across startups, freelancers and global companies expanding into Pakistan.” 
Faisal Aftab, co-founder and managing partner at Zayn Capital, said he had closely watched COLABS grow into one of the key players in Pakistan’s startup ecosystem. 
“Omar and his team continue to do excellent work to accelerate the growth of the startup ecosystem here and we are excited to join their journey in serving tens of thousands of founders and freelancers across Pakistan,” Aftab said. 

COLABS has a partner network of 100-plus organizations involved in taking initiatives to boost the Pakistani startup ecosystem growth, the company said. 


Pakistan PM pushes for deeper economic and security ties with visiting US delegation

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Pakistan PM pushes for deeper economic and security ties with visiting US delegation

  • Shehbaz Sharif encourages US companies to invest in Pakistan’s minerals sector, calls it a ‘priority area’
  • The visiting delegation also discusses Pakistan-US Counterterrorism Dialogue scheduled for June this year

ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday reiterated his administration’s desire for closer collaboration with the United States in trade, investment and counterterrorism during a meeting with a visiting American delegation attending the Pakistan Minerals Investment Forum in Islamabad.
The US and Pakistan have had a complex relationship, ranging from close defense cooperation during the Cold War, particularly after the Soviet invasion of Afghanistan in 1979, to more strained and uneven ties in recent decades.
Despite challenges, Islamabad has sought to broaden and deepen relations with Washington. However, its ambition to pivot to an export-driven economy by expanding global trade took a hit when President Donald Trump imposed a 29 percent tariff on Pakistani goods last week.
Still, the visiting US delegation, led by Eric Meyer, Acting Assistant Secretary at the Bureau of South and Central Asian Affairs, praised Pakistan for hosting the investment forum and expressed American interest in the country’s mineral sector.
“While underscoring the significance of Pakistan-US relations not only in the bilateral context but also for regional peace and security, the Prime Minister expressed Pakistan’s desire to work with President Trump and his Administration to strengthen bilateral relations with the United States,” Sharif’s office said in a statement after the meeting.
“The Prime Minister underscored the importance of enhanced cooperation in areas of mutual interest including trade and investment, as well as counterterrorism,” it added.
Sharif also encouraged US companies to invest in Pakistan’s minerals sector, calling it a “priority area” with immense potential.
Meyer congratulated Pakistan on organizing the two-day event and acknowledged the interest of American firms in exploring investment opportunities in Pakistan’s mining industry.
Separately, the American official met Interior Minister Mohsin Naqvi and held detailed discussions on bilateral cooperation in counterterrorism, anti-smuggling and narcotics control.
Both sides agreed to enhance collaboration, with Naqvi highlighting that a Pakistan-US Counterterrorism Dialogue scheduled for June in Islamabad would be “an important step in strengthening joint efforts.”
Meyer condemned last month’s deadly terrorist attack on the Jaffer Express, a passenger train targeted in Balochistan province by separatist militants, and offered condolences for the loss of life.
“Pakistan cannot fight this war alone,” Naqvi said. “The international community must support it.”
He noted that, like the US, Pakistan was also grappling with the issue of illegal immigration, referring to the presence of Afghan nationals in the country whom the government is working to repatriate to the neighboring state.
Naqvi also expressed hope the American delegation’s participation in the minerals forum would serve as a milestone in advancing investment and bilateral ties.


Pakistan’s envoy to UAE says Islamabad pursuing progressive agenda to drive economic growth

Updated 49 min 43 sec ago
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Pakistan’s envoy to UAE says Islamabad pursuing progressive agenda to drive economic growth

  • Ambassador Faisal Niaz Tirmizi hosted a gathering in Abu Dhabi to mark his country’s national day
  • He called for an end to hostilities in Gaza and demanded peaceful resolution of the Palestine dispute

ISLAMABAD: Pakistan’s envoy to the United Arab Emirates (UAE) on Tuesday said the administration in Islamabad was following an agenda to ensure economic progress, as he hosted a reception to mark his country’s national day.
Pakistan annually commemorates its national day on March 23, marking the anniversary of the 1940 Lahore Resolution that called for a separate homeland for the Muslims of the Indian Subcontinent.
Ambassador Faisal Niaz Tirmizi highlighted the Pakistani government’s socio-economic initiatives during the event in Abu Dhabi, which was attended by diplomats and senior Emirati officials, including Sheikh Nahayan bin Mabarak Al Nahyan, the UAE’s Minister of Tolerance and Coexistence.
“[Ambassador Tirmizi] invited attention toward a range of opportunities in Pakistan that remained pivotal in promoting socio-economic development in [his] country,” said an official statement issued by the Pakistan Embassy in Abu Dhabi following the event.
“These included a healthy youth bulge; growing women participation in public life; the potential of agriculture; rich socio-cultural heritage; tourism potential; and the fastest-growing IT sector,” the statement added. “He underscored that the government was pursuing a progressive agenda aimed at making tangible progress toward achieving economic growth and Sustainable Development Goals.”
In his address, the Pakistani envoy also called for an immediate end to hostilities in Gaza and reiterated Islamabad’s support for the peaceful resolution of the Palestine and Kashmir disputes in accordance with United Nations Security Council resolutions.
The ambassador acknowledged the UAE’s impressive economic transformation over the past five decades and paid tribute to the leadership of the late Sheikh Zayed bin Sultan Al Nahyan, whose vision, he said, was being proudly carried forward by President Sheikh Mohammed bin Zayed Al Nahyan.
Tirmizi also praised the growing political and economic partnership between Pakistan and the UAE while highlighting regular high-level exchanges and institutional cooperation between them along with the presence of a 1.7 million-strong Pakistani diaspora in the Gulf state.


Pakistan’s national flag carrier posts first profit in 21 years amid privatization push

Updated 09 April 2025
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Pakistan’s national flag carrier posts first profit in 21 years amid privatization push

  • PIA posted an operational profit of $33.48 million, with a net profit of $94.32 million in FY 2024
  • Airline says its return to profitability will enhance market credibility, support national economy

ISLAMABAD: Pakistan’s financially struggling national air carrier has recorded an operational profit of Rs9.3 billion ($33.48 million) for the first time in 21 years, the country’s defense minister Khawaja Muhammad Asif said on Tuesday.
Pakistan’s cash-strapped administration is looking to privatize the debt-ridden Pakistan International Airlines (PIA) to raise funds and overhaul state-owned enterprises as part of a $7 billion International Monetary Fund (IMF) program.
However, a previous attempt to offload a 60 percent stake in the airline failed last year after it drew just one bid — well below the asking price — highlighting investor concerns over the carrier’s viability. The new development could boost the government’s efforts to revive buyer interest.
“#PIACL Board today has approved its accounts FY 2024, and after 21 years, it has achieved an operating profit of PKR 9.3 billion & net profit of PKR 26.2 billion [$94.32 million] (after deferred tax adjustment),” Asif said in a post on social media platform X, formerly Twitter.
“People of #Pakistan might have lost hope on ‘once a pride of the nation’, but with rigorous steps adopted by the GoP, implementing comprehensive reforms entailing cost & workforce rationalization, routes optimization & financial discipline with balance sheet restructuring, PIA is poised to capitalize on financial performance through privatization process,” he added.
According to a statement from the airline’s spokesperson, the operational margin for 2024 exceeded 12 percent, a performance level the company said matches that of top global carriers.
PIA’s return to profitability is expected to enhance its market credibility and support the broader economy, it added.


Pakistan warns of surging global military spending, arms race fueled by AI

Updated 09 April 2025
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Pakistan warns of surging global military spending, arms race fueled by AI

  • Pakistan’s envoy at the UN calls for a halt to the development, use of advanced weapons technologies
  • Ambassador Asim Iftikhar Ahmad urges safeguards to prevent AI from fueling a new global arms race

ISLAMABAD: Pakistan on Tuesday warned that a sharp rise in global military spending, driven by emerging technologies such as artificial intelligence (AI), is accelerating a new arms race internationally with potentially grave consequences for global security.
The remarks were delivered by Pakistan’s Permanent Representative to the United Nations, Ambassador Asim Iftikhar Ahmad, during the General Debate of the UN Disarmament Commission’s 2025 session.
Established in 1978 following the First Special Session of the UN General Assembly devoted to disarmament, the commission was tasked with formulating proposals on nuclear disarmament and preventing the proliferation of weapons of mass destruction. However, it has made little tangible progress over the decades and has often been criticized for its inability to produce concrete results.
“We are witnessing unprecedented increase in military spending in recent memory, fueling ever-increasing arms race now turbocharged by technological advancements,” Ahmad said, according to an official statement. “The relentless pursuit of power and geopolitical competition has intensified in recent years, taking us further away from this important international priority.”
The Pakistani envoy emphasized the urgent need for effective international measures to halt the development and use of advanced weapons technologies that could further destabilize global security.
He warned that such advancements were extending the arms race into new frontiers, including outer space, cyberspace and the world’s oceans.
“Artificial intelligence is fast becoming a pervasive feature of our daily lives with profound impact on international peace and security,” Ahmad continued, adding that the military application of AI posed a range of challenges – security, operational, ethical and legal – particularly regarding compliance with international humanitarian law.
The Pakistani diplomat cautioned the unchecked spread of AI-powered autonomous weapons could spark fresh arms races and destabilize both regional and global security environments.
“It is imperative to ensure that AI does not become another area of ongoing arms race with huge implications for global peace and security,” he said, calling for a “multifaceted, holistic and multilateral response.”
Ahmad said the UN should play a central role in shaping a coordinated global approach to the challenges posed by military AI technologies, and expressed Pakistan’s readiness to cooperate with it over the issue.


South Africa-based Pakistani entrepreneur to invest in coal-to-gas plant at Thar coalfields

Updated 09 April 2025
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South Africa-based Pakistani entrepreneur to invest in coal-to-gas plant at Thar coalfields

  • The project will convert coal into synthetic gas for industrial use
  • Initiative can reduce energy costs, alleviate growing fuel import bill

ISLAMABAD: A South Africa-based Pakistani entrepreneur is investing in a coal-to-gasification plant at the Thar coalfields in southern Sindh province to generate cleaner energy and reduce Pakistan’s reliance on imported fuels, state media reported on Tuesday.
The announcement follows Pakistan’s high-profile mining summit in Islamabad, which brought together investors, policymakers and industry leaders from around the world to explore the country’s vast untapped mineral wealth.
Businesswoman Tabassum Pardesi’s investment signals a renewed effort to harness Pakistan’s Thar coal reserves through gasification technology, which converts coal into synthetic gas for industrial use. The initiative can reduce energy costs, alleviate the country’s growing fuel import bill and provide a domestic alternative to costly liquefied natural gas.
“Tabassum ... is now spearheading a landmark investment initiative to establish a coal-to-gasification plant at the Thar coalfields,” the Associated Press of Pakistan (APP) said in its report.
“The venture, in collaboration with leading South African mining conglomerates, aims to generate cleaner energy, reduce Pakistan’s reliance on imported fuels, and unlock long-term economic opportunities for the region.”
It highlighted that Pardesi, who is known for co-founding the South African Skywise Airlines, has submitted a proposal for the project to the Pakistani authorities and also initiated a “strategic lobbying” campaign during the minerals summit.
The report said her goal was to secure high-level public-private partnerships, streamline regulatory pathways and ensure alignment with Pakistan’s national energy and climate resilience goals.
Pakistan aims for a low-carbon future, targeting 60 percent renewable energy and 30 percent electric vehicle sales by 2030. It plans a 15 percent emissions reduction, increasing to 35 percent with international support.
“Pakistan has the potential to become a global mining powerhouse,” APP quoted Pardesi as saying. “With its abundant natural resources and a youthful workforce, all we need is visionary execution and international collaboration — and I’m here to help make that happen.”
The Thar desert is home to the world’s largest lignite coal reserves, estimated at 175 billion tons, equivalent to 50 billion tons of oil and 2,000 trillion cubic feet of gas. Pakistan’s mineral sector contributes only 3.2 percent to GDP and 0.1 percent to global mineral exports despite rich mineral resources including salt, copper, gold and coal.