March 16, 2010 – Islamabad: Tourism Promotion Services (Pakistan) Limited (TPS), owning and managing Serena Hotels in Pakistan, a subsidiary of The Aga Khan Fund for Economic Development (AKFED), signed a Memorandum of Understanding with the International Union for the Conservation of Nature and Natural Resources (IUCN). According to a press release, the MoU will enable both the organisations to engage in the business sector in order to work towards a sustainable economy by means of the common goals of eco-tourism, natural resource conservation, and sustainable economic and community development. The agreement was signed by Aziz Boolani, CEO TPS-South & Central Asia, and Shah Murad Aliani, Country Representative IUCN. The ceremony was held at Islamabad Serena Hotel and was attended by the officials of TPS (P) and IUCN.