Prime Minister Shehbaz Sharif on Friday inaugurated a Chinese-backed special economic zone (SEZ) in Islamabad, a project projected to generate $400 million in exports for Pakistan, the Associated Press of Pakistan reported.
The SEZ will be developed by Chinese textile manufacturer Challenge Fashion Private Limited, which has pledged to invest $100 million over the next five years. The initiative forms part of the industrial component of the China-Pakistan Economic Corridor (CPEC) Phase II, which focuses on industrialisation, special economic zones, clean energy, agriculture, and livelihood projects.
Speaking at the inauguration, PM Shehbaz said the project would promote technology transfer, skill development, and sustainable industrial growth. He met with a company delegation led by Chairman Huwang Weiguo, expressing Pakistan’s commitment to “take bilateral ties to new heights” and assuring full government facilitation for the venture.
Federal ministers Ahsan Iqbal, Jam Kamal, Attaullah Tarar, Ali Pervez Malik, Sardar Awais Ahmad Leghari, and Special Assistant to the Prime Minister Tariq Fatemi were present at the meeting. The prime minister thanked the delegation for its confidence in Pakistan’s market and voiced the country’s interest in setting up more such industrial units nationwide.
He also announced that a China-Pakistan Business-to-Business Conference will soon be held in China to boost private sector collaboration between the two nations.
Chairman Huwang said his company aims to build a modern textile industry in Pakistan and expressed gratitude to the prime minister for his support and hospitality.
In July, Planning Minister Ahsan Iqbal told a Chinese delegation that establishing SEZs remains a top federal priority. Earlier this year, the Sindh government signed an agreement with Chinese and local investors to develop the Dhabeji SEZ under CPEC Phase II.
