Pakistan’s iTANZ eyes $45mn tech opportunities through China partnerships

Pakistan-based iTANZ Technologies Limited has signed Memorandums of Understanding (MoUs) with three Chinese technology firms for potential collaborations valued at around $45 million, i.e. approximately Rs12.5 billion, aiming to strengthen cooperation in artificial intelligence, robotics, digital platforms, and offshore software services.

iTANZ Technologies Limited, a publicly listed company on the Pakistan Stock Exchange (PSX), was part of the official delegation accompanying Prime Minister Shehbaz Sharif during his visit to China aimed at strengthening Pakistan–China economic and strategic cooperation.

Chief Executive Officer (CEO) Syed Asim Zafar represented iTANZ Technologies Limited in Hangzhou, where the delegation participated in high-level B2B engagements with leading Chinese technology and innovation enterprises.

During the visit, iTANZ Technologies Limited signed Memorandums of Understanding (MoUs) with Zhejiang Xiangyue Group, Suzhou Xuqing Intelligent Technology Co., Ltd., and Shanghai Shuhai ZhiLian Digital Technology Co., Ltd. to collaborate in the areas of artificial intelligence, robotics, digital platforms, technology transfer, offshore software services, and joint market development.

“The signed MoUs establish a framework for strategic cooperation and identify potential business opportunities with an aggregate indicative value of approximately $45 million (approx. Rs12.5 billion).

“The indicative value represents the estimated scale of opportunities being pursued by the parties and remains subject to definitive agreements, commercial negotiations, due diligence, and applicable regulatory approvals,” read the notice.

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As per the notice, the delegation visit provided a key platform for advancing cross-border collaboration in technology, investment, and digital transformation between Pakistan and China.

iTANZ Technologies Limited was incorporated in Pakistan as a public limited company in 1990. The company was formerly known as Zahur Cotton Mills Limited.

In March 2025, the Lahore High Court approved the merger of the company and ITANZ Technology Private Limited (ITPL) with effect from October 01, 2023.

After the merger, the company’s principal business activity included software development, installation and implementation as well as other IT-related supplies and services. The company also provides consultancy services in the field of IT.