LAHORE: The first phase of Challenge Special Economic Zone (SEZ) Lahore has achieved financial close after securing funding from a consortium of six banks and financial institutions, paving the way for construction and development of the industrial project.
The financing agreements were signed during a ceremony held at the Prime Minister’s Office, attended by Federal Minister for Planning Ahsan Iqbal and Special Assistant to the Prime Minister Haroon Akhtar Khan.
The project is being developed by Challenge Fashion (Private) Limited, with financing provided by a consortium comprising The Bank of Punjab, Pak China Investment Company Limited, Habib Metropolitan Bank Limited, Bank of Khyber, BankIslami Pakistan Limited, and Pak Libya Holding Company Limited.
Officials said the completion of financial arrangements marks a significant milestone for the project, enabling development work on the first phase to proceed.
Addressing the ceremony, Ahsan Iqbal highlighted the growing economic cooperation between Pakistan and China, saying investment by Chinese companies in Pakistan has continued to expand. Haroon Akhtar Khan termed the completion of the financing process an important step toward the implementation of the industrial zone.
Challenge SEZ Lahore is being developed as an export-oriented industrial zone designed to attract domestic and foreign investment, enhance manufacturing capacity, strengthen industrial supply chains, promote technology transfer, and create employment opportunities.
The project is expected to contribute to Pakistan’s industrial growth by providing dedicated infrastructure for export-focused industries and supporting new manufacturing ventures.
