PM Shehbaz Inaugurates Chinese Textile Group’s Economic Zone with $400 Million Export Target

Prime Minister Shehbaz Sharif on Friday launched a Special Economic Zone to be established by a Chinese textile group, with a $100 million investment over five years, projected to generate $400 million in exports. The Special Economic Zone will be developed by the Chinese garments group Challenge Fashion Private Limited, which has already invested $17 million in Pakistan since 2014. Before the groundbreaking ceremony, the prime minister met with the company’s delegation, led by Chairman Huwang Weiguo, and welcomed the establishment of the Special Economic Zone. He emphasized that the initiative would facilitate technology transfer, skill development, and sustainable industrial growth. He directed the authorities to provide all possible facilities to the Challenge Group for the Zone, reiterating his government’s commitment to promoting the industrial component of the China-Pakistan Economic Corridor (CPEC) and leveraging China’s progress and expertise in the textile sector. Highlighting the time-tested Pakistan-China friendship, Prime Minister Shehbaz expressed his desire to elevate bilateral ties to new heights, noting that the economic relations between the two countries were a source of great satisfaction. He also encouraged Chinese industries to establish their units in Pakistan and appreciated the confidence of Challenge Fashion Group in the Pakistani market. The prime minister informed the delegation that a China-Pakistan Business-to-Business Conference would soon be held in China, providing an opportunity for collaboration between private businesses from both countries. Chairman Huwang Weiguo, thanking the prime minister for Pakistan’s excellent hospitality, stated that his company was establishing a modern textile industry in the country. He announced that the company would invest $100 million in the Special Economic Zone over the next five years, with an expected export revenue of $400 million. The meeting was attended by federal ministers Ahsan Iqbal, Jam Kamal, Attaullah Tarar, Ali Pervez Malik, and Sardar Awais Ahmad Leghari, along with Special Assistant to the Prime Minister Tariq Fatemi and other senior government officials.