PM Sharif Focuses on Advancing CPEC Industrial Cooperation

Prime Minister Shehbaz Sharif has reaffirmed Pakistan’s dedication to boosting the industrial aspects of the China-Pakistan Economic Corridor (CPEC). He emphasized the nation’s eagerness to utilize China’s knowledge and advancements, especially in the textile industry.

During discussions with representatives from the Chinese apparel company, Challenge Fashion Private Limited, led by Chairman Huwang Weiguo, the Prime Minister revealed intentions to host a China-Pakistan Business-to-Business conference in China shortly. This event is designed to stimulate partnerships between private sector firms in both countries.

Huwang Weiguo informed the Prime Minister that Challenge Fashion Group has already invested $17 million in Pakistan since 2014. Currently, the company is in the process of developing a cutting-edge textile facility within Pakistan.

The corporation is also establishing a special economic zone (SEZ) within Pakistan and plans to invest $100 million over the next five years. This project is expected to generate $400 million in export revenue.

Following the meeting, PM Sharif officially opened the Challenge Fashion Group’s special economic zone.

In his address to the delegation, Sharif characterized the bond between China and Pakistan as exceptional and enduring, highlighting the consistent mutual support during challenging times. He conveyed the government’s strong desire to strengthen bilateral relations, with a particular focus on enhancing economic collaboration.

“The deepening of economic ties between China and Pakistan brings immense satisfaction. We encourage Chinese industries to establish their presence in Pakistan,” Sharif stated. He also lauded Challenge Fashion Group for their strong belief in Pakistan’s market potential.

Sharif emphasized the strategic significance of the SEZ, noting its role in facilitating technology transfer, skills enhancement, and sustainable industrial development. He instructed all relevant departments to provide comprehensive support and essential resources to the Challenge Group.

The meeting saw the participation of Federal Minister for Planning Ahsan Iqbal, Federal Minister for Commerce Jam Kamal, Federal Minister for Information Ataullah Tarar, Federal Minister for Petroleum Ali Pervaiz Malik, Federal Minister for Power Division Awais Leghari, and other high-ranking government officials.