ISLAMABAD: The Chinese government is working on shifting about $300 billion worth of textile industry to Pakistan in near future as the world’s second top cotton producing country has reduced subsidies to its textile sector, and only running the sector for increasing employment
This was revealed by the officials, who recently came back after eight-day official visit of China.
However, China expressed concerns over the prevailing law and order situation in Pakistan and asked how the government will provide safety to Chinese business, said one of the delegates. He said that the Chinese investors also asked about the energy issues and they were told that any industry could have their own captive plants.
It is pertinent to mention that the Industrial and Commercial Bank of China Limited (ICBC) and Habib Bank Limited have already carried out studies to establish an industrial zone in Pakistan and the Chinese bank representatives have already done pre-feasibility studies in Gwadar, Pind Daden Khan and Bahawalpur areas, to find an appropriate place to establish 5000 acres industrial zone.
