ISLAMABAD – Prime Minister Shehbaz Sharif inaugurated a Special Economic Zone (SEZ) in Islamabad, to be developed by Chinese textile group Challenge Fashion Private Limited. The project is expected to generate $400 million in exports and attract $100 million investment over the next five years.
Speaking at the ceremony, PM Shehbaz said the initiative would help in technology transfer, skill development, and sustainable industrial growth in Pakistan. He assured the Chinese investors of full government support, calling the project an important part of the industrial component of the China-Pakistan Economic Corridor (CPEC).
A delegation of the company, led by Chairman Huwang Weiguo, met the prime minister. Shehbaz said Pakistan was keen to take bilateral ties with China “to new heights” and appreciated the confidence shown by Chinese investors in Pakistan’s economy.
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He also announced that a China-Pakistan Business-to-Business Conference would soon be held in China to promote cooperation between private companies of both countries.
Federal ministers Ahsan Iqbal, Jam Kamal, Attaullah Tarar, Ali Pervez Malik, Sardar Awais Ahmad Leghari, and Special Assistant Tariq Fatemi were present at the meeting.
Chairman Huwang thanked the prime minister for his support and said the company aims to set up a modern textile industry in Pakistan.
Pakistan and China enjoy strong bilateral relations. Under CPEC’s second phase, both countries are focusing on industrialisation, SEZs, clean energy, agriculture, and livelihood projects.
In July, Planning Minister Ahsan Iqbal assured a Chinese delegation that SEZ development remains a top government priority. Earlier this year, the Sindh government signed an agreement with Chinese and local investors for the Dhabeji SEZ under CPEC Phase II.
