PM Inaugurates Special Economic Zone by Chinese Textile Group

Prime Minister Shehbaz Sharif launched a Special Economic Zone (SEZ) on Friday. A Chinese textile firm will develop it with an investment of $100 million over the course of five years.

The Chinese garments group, “Challenge Fashion Private Limited,” will establish the SEZ, having already invested $17 million in Pakistan since 2014.

Prior to the groundbreaking, PM Shehbaz met with a delegation from the company, led by Chairman Huwang Weiguo. He expressed his support for the SEZ’s establishment, which is anticipated to promote technology transfer, skill enhancement, and long-term industrial development. The project is projected to produce $400 million in exports.

The Prime Minister instructed that Challenge Group receive every assistance possible for the zone. He affirmed his government’s dedication to advancing the industrial elements of the China-Pakistan Economic Corridor and utilizing China’s advancements and knowledge in the textile industry.

The Prime Minister emphasized the enduring friendship between Pakistan and China. He stated his government’s desire to elevate bilateral relations, noting that the economic ties between the two nations were a great source of contentment.

He conveyed Pakistan’s interest in having Chinese businesses establish operations there and expressed gratitude for Challenge Fashion Group’s faith in the Pakistani market.

The Prime Minister informed the delegation that a China-Pakistan Business-to-Business Conference would soon take place in China, giving private sector companies from both countries the chance to collaborate.

The chairman of Challenge Fashion Group expressed gratitude to the prime minister for the outstanding hospitality in Pakistan, stating that his business was building a cutting-edge textile industry there. He stated that the business anticipated producing $400 million in exports and would invest $100 million in this Special Economic Zone over the next five years.

Federal ministers Ahsan Iqbal, Jam Kamal, Attaullah Tarar, Ali Pervez Malik, and Sardar Awais Ahmad Leghari, Special Assistant to the Prime Minister Tariq Fatemi, and other senior government officials were present at the meeting.