Islamabad: Prime Minister Shehbaz Sharif inaugurated on Friday a special economic zone (ZES) which will be created by a group of Chinese textiles, with an investment of $ 100 million over five years, planned to report $ 400 million in exports.
The Zes will be created by the Chinese group of clothing “Challenge Fashion Private Limited” which has already invested $ 17 million in Pakistan since 2014.
Prime Minister Shehbaz, who met the delegation of the company managed by President Huwang Weiguo before the inauguration, praised the creation of ZES which would facilitate technology transfer, skills development and sustainable industrial growth.
The Prime Minister ordered to provide all the possible installations to challenge the group for the area, reiterating that his government was determined to promote the industrial component of the Chinese-Pakistani economic corridor and benefiting from the progress and expertise of China in the textile sector.
Stressing the Pakistani-Chinese-Chinese friendship, Prime Minister Shehbaz said his government wanted to take bilateral ties to new heights because economic relations between the two countries were a source of great satisfaction.
He said Pakistan wanted Chinese industries to establish their units in Pakistan and also appreciated the confidence of the Pakistani market.
The Prime Minister told the delegation that a China-Pakistan Business To-Business conference would soon be held in China, offering an opportunity for collaboration between private companies in the two countries.
The president of the Challenge Fashion Group, thanking the Prime Minister for excellent hospitality in Pakistan, said that his business created a modern textile industry in Pakistan. He said the company would invest $ 100 million in this special economic area over the next five years and is expected to generate $ 400 million in exports.
The meeting was followed by the federal ministers Ahsan Iqbal, Jam Kamal, Attaullah Tarar, Alvez Malik and Sardar Awais Ahmad Leghari, special assistant of Prime Minister Tariq Fatemi and the relevant senior officials of the government.
