Prime Minister Shehbaz Sharif on Friday inaugurated a Special Economic Zone (SEZ) to be developed by Chinese textile group Challenge Fashion Private Limited. The project, with a planned $100 million investment over the next five years, is expected to generate $400 million in exports.
Challenge Fashion Group has already invested $17 million in Pakistan since 2014 and is now expanding its operations with a modern textile facility under the new SEZ.
The prime minister assured the company of all possible support, emphasizing his government’s commitment to boosting the industrial component of the China-Pakistan Economic Corridor (CPEC) and benefiting from China’s expertise in textiles.
Highlighting Pakistan-China friendship, PM Shehbaz said the government wanted to elevate bilateral ties further, welcoming Chinese industries to invest in Pakistan. He also announced a forthcoming China-Pakistan Business-to-Business Conference aimed at strengthening collaboration between private sector companies of both countries.
Challenge Fashion Group chairman Huwang Weiguo confirmed the company’s plans to establish a state-of-the-art textile industry in Pakistan, reiterating the $100 million investment and $400 million export target over five years.
The inauguration ceremony 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.
