The Institute was established in Lahore in the year 1986 as the Canadian School of Management - Lahore Learning Centre. Later the name was changed to The Pak-American Institute of Management Sciences (Pak-AIMS) to reflect the Institute's Articulation Agreement with College of Statern Island of City University of New York(CSI/CUNY), USA.

In view of its excellent performance in education over the years, Pak-AIMS was issued NOC by the University Grants Commission of Pakistan for the award of charter in 1995. Consequently, the Institute was chartered by the Government of Punjab under Punjab Ordinance XXIII of 2002 and was renamed as The Institute of Management Sciences (IMS).

IMS is a business school with over fourteen hundred students at its two campuses located in Gulberg, Lahore. Rigorous academic programmes, quality of education and congenial environment make IMS an ideal choice for professional education in the country.