LAHORE
\nChallenge Fashion (Pvt) Ltd, a Chinese textile company, has acquired 100 acres of land in Lahore, Pakistan\u2019s emerging economic hub, in an aim to develop a Special Economic Zone (SEZ) for a textile park. The company plans to commence the construction of an export-based garment factory after completing a 3-kilometer access road from the main highway to the proposed site of a textile park. \u201cThe factory infrastructure is expected to be built within 12 months,\u201d stated an official from Challenge Fashion in an interview with Gwadar Pro.
\nThe garment factory is expected to help Pakistan earn 500 million US dollars in foreign exchange and create 30,000 jobs each year. Challenge Fashion (Pvt.) Ltd plans to invest 150 million US dollars over the next 3-5 years. If everything progresses as planned, it is expected to attract an additional investment of 100 million US dollars in supporting industries.
\nThe official mentioned that acquiring high-quality fabrics is a significant challenge. Currently, more than 80% of the surface accessories are imported, which substantially hinders the company\u2019s pace of expanding its industrial scale.
\n\u201cThe company plans to develop the park into the most innovative and sustainable textile industry base in South Asia, showcasing China\u2019s park design concept and construction standards to Pakistani counterparts.
\nThis will promote the most efficient and environmentally friendly automated fabric production equipment and garment production systems, and spread modern production management science,\u201d the official added.
\nThe official also stated that the establishment of a supply chain cluster would help improve Pakistan\u2019s labor structure and management. \u201cWe hope to demonstrate China\u2019s industrial park standards to our Pakistani counterparts by creating a Chinese-regulated industrial park project,\u201d the official said.
\n\u201cWe aim to enable Chinese enterprises interested in an overseas layout to see Pakistan\u2019s investment potential and also provide project landing sites for SMEs so that they can fully benefit from the preferential investment policies provided by the Pakistani government,\u201d the official asserted.
\nThe official further explained that \u201cthe tariff-free treatment of textiles exported to the EU, combined with China\u2019s Free Trade Agreement, can guarantee the price competitiveness of Pakistani products. Pakistani fabrics exported to Africa or Jordan can enter North America without tariffs, and the route is much shorter than from East Asia.\u201d \u2014 DNA<\/p>\n","protected":false},"excerpt":{"rendered":"
LAHORE Challenge Fashion (Pvt) Ltd, a Chinese textile company, has acquired 100 acres of land in Lahore, Pakistan\u2019s emerging economic hub, in an aim to develop a Special Economic Zone (SEZ) for a textile park. The company plans to commence the construction of an export-based garment factory after completing a 3-kilometer access road from the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-408326","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n