Speaking to the media in Karachi, the finance minister said that he had reviewed the progress on the textile city project.
He said a power plant that generates 250 megawatts of electricity for the textile city will start functioning next year.
Shaikh said that the meeting also discussed a water scheme, worth Rs1.3 billion rupees, that will provide 20 million gallons of water daily to the textile city.
Furthermore, the minister said that a project to provide gas to the textile city is also underway.
The textile city project is committed to developing the first textile processing zone which would comply with rules and requirements of World Trade Organisation and ISO 14001.
Earlier it was announced that the sale of plots in textile city will start in mid-July, whereas, the project will be completed in a span of two years.
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Karachi is the city where we generate 68% revenue for the country, very simple Karachi heights and industrialiest contribute thier share honestly not like Faislabad or Lahore where many well reputed textile mills even not pay 50% of thier utility bills including many of them are running on high banking interest/frauds cases etc,examples are thier like leading home textile mills in Faislabad and garment manufacturers in Lahore. Since we all knows Karachi is mini Pakistan so this is city deserve more then any other city in the Countty. As plan 80000 direct jobs will be available and believes many more indirect jobs will be too, so we must required ultra over populated city which is Karachi. Besides above Government should consantrate on law & order situiation in the city(like from 2002 to 2008,business was growing & we were all happy) which is very important for current busienss setups as well as upcoming business opportunities like PTC. Proud to be Karachi Heights...
@ Meekal Ahmed: Sir, I really respect you and your opinion on economic matters. But I have to point out here the racism and sexism in your post is disconcerting: "even Bangladesh ... a labor force that is comprised almost entirely of women" Maybe you meant to say Bangladesh, an erstwhile laggard in textiles, that relies on its cottage industry, has a higher unit value than Pakistan. I hope so!
It would have been better to fix the textile hub of Pakistan (Faisalabad) rather than making a textile emporium in a city which is already ultra-over populated !
@Tanoli of karachi.:
Sir, You should learn to read carefully since that is the first point the Minister made.
This is almost exciting news but Pakistan has to move away from its over-dependence on low value textiles. We have been waiting 62 years to move "up-market" like other successful developing countries have done, raising productivity, incomes and skills.
Instead we produce the same commodities and sell to the same markets and one World Bank study showed we get less unit value/price than even Bangladesh does for their garments produced by a labor force that is comprised almost entirely of women. Their garment exports are a force to be reckoned with in world markets despite their late start.
That is great !!
MR hafiz textile mills dont run with out electricity.