Prime Minister Shehbaz Sharif on Friday launched a Special Economic Zone (SEZ) set up by Chinese textile company Challenge Fashion Private Limited. The SEZ is part of a $100 million investment plan over five years, expected to generate $400 million in exports.
Challenge Fashion Group, which has invested $17 million in Pakistan since 2014, will establish a modern textile industry in the zone. PM Shehbaz emphasized his government’s support for the project, highlighting the importance of the industrial component of the China-Pakistan Economic Corridor (CPEC) and Pakistan’s desire to benefit from China’s textile expertise.
Speaking on the occasion, the prime minister praised Pakistan-China ties and expressed hope that more Chinese industries would set up operations in Pakistan. He also announced an upcoming China-Pakistan Business-to-Business Conference to foster private sector cooperation.
Chairman Huwang Weiguo reaffirmed the company’s commitment to the SEZ, aiming for a $100 million investment and $400 million in exports over five years.
The event was attended by federal ministers Ahsan Iqbal, Jam Kamal, Attaullah Tarar, Ali Pervez Malik, Sardar Awais Ahmad Leghari, Special Assistant to the Prime Minister Tariq Fatemi, and senior government officials.