Chinese garment manufacturer Challenge Fashion Pvt. Ltd. will establish a Special Economic Zone (SEZ) in Pakistan with a projected investment of $100 million over the next five years, according to a statement from Prime Minister Shehbaz Sharif’s office.
The investment is expected to generate $400 million in exports, an official briefing stated. The prime minister inaugurated the SEZ after a meeting with a delegation led by the company’s chairman, Huang Weiguo.
During the meeting, Prime Minister Shehbaz Sharif said, “We appreciate Challenge Fashion Group’s confidence in the Pakistani market. We welcome Challenge Group’s establishment of a Special Economic Zone in Pakistan.”
The Prime Minister instructed that all possible facilities be provided to Challenge Group with regard to the SEZ and added, “We are determined to promote the industrial component of the China–Pakistan Economic Corridor (CPEC) and Pakistan wishes to benefit from China’s progress and expertise in the textile sector”.
