Prime Minister Shehbaz Sharif on Friday inaugurated the Challenge Group Special Economic Zone (SEZ) and welcomed a $100 million investment by the Chinese garments giant, Challenge Fashion Private Limited, aimed at boosting Pakistan’s textile exports and industrial capacity, Radio Pakistan reported.
Speaking during a meeting with a delegation from the Chinese group, led by Chairman Huwang Weiguo, he expressed Pakistan’s commitment to elevating its strategic and economic partnership with China to greater heights.
“Pakistan and China enjoy a time-tested friendship that has stood resilient through every challenge,” PM Shehbaz said. “We are pleased to see our economic relations grow stronger, and we welcome more Chinese industries to set up operations in Pakistan,” he added.
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Sharif lauded the Chinese firm’s continued confidence in the Pakistani market, noting that Challenge Fashion Group has already invested $17 million in the country since 2014. The new Special Economic Zone, he said, will serve as a model for sustainable industrial development, facilitating technology transfer, skill enhancement, and job creation.
He directed relevant authorities to extend all necessary support to ensure the swift operationalisation of the SEZ and reaffirmed the government’s focus on advancing the industrial dimension of the China-Pakistan Economic Corridor (CPEC).
The PM also highlighted Pakistan’s keen interest in learning from China’s expertise in the textile sector and announced that a China-Pakistan Business-to-Business Conference would soon be held in China to encourage private sector collaboration.
Briefing the premier, the Challenge Group delegation shared that the $100 million investment over the next five years is expected to generate textile exports worth $400 million. Chairman Weiguo thanked the PM for the warm reception and hospitality, saying the group was committed to deepening its engagement with Pakistan’s growing textile sector.
