‘Textile City to bring $250m in investments’
Prime Minister Gilani said that the newly established Textile City would bring in $250 million in investments, in a statement released by the Ministry of Textile Industry on Saturday. Speaking at the inauguration ceremony, he also said that the economic zone would bring 80,000 jobs, and add $3 billion to textile exports over time.
He said that while Pakistan had tremendous potential, the country has not been able to realize it of late. “We are blessed with natural resources, cotton crop, unique geo-political location, a rich history of quality textile products and a large labour force,” but “supply of cheap contamination-free cotton, low skill levels of labour force, power shortages and above all inadequate infrastructure” have led to a decline in exports over the past few years.
Pakistan Textile City would solve the infrastructural problems that the industry faces, Gilani said. “Pakistan Textile City would provide an ideal synergistic environment to local players in the industry to join hands with international partners for establishing joint ventures and benefit from the strategically located facilities at Port Qasim,” he said.
He also said that “Chinese, Turkish and Korean businesses have shown initial interest in investing in Textile City.”
Published in The Express Tribune, July 31st, 2011.
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Have been hearing about this Textile City since forever.. I reckon it was announced back in 2002 or 2003 when the textile industry in Pakistan was in full bloom, what good use would it be know when our textiles are no longer competitive with the likes of China, India and Bangladesh in the quota free regime.
In addition, the country is already marred power shortfall how do they expect to make this project viable.
It is probably not the right mind set to look at everything skeptically, but one thing that is hard to fathom is why first ruin the only thriving industry of the country and then launch a plan to almost relocate it??? Is it possible that the textile industry of Punjab has probably been ruined to try and shift it to Sindh simply out of political and provincial animosity....will it run or not run is a future debate, who will be held answerable for the ruin of what has been lost by the country?
@Pundit:
It is supposed to have its own power source.
How is this different from Export Processing Zones? Just another name?
Invest on Electricity Project alone with bring back Pakistan in forefront of international market. Our corrupt politicians have no vision and no concrete plan in place.
And this textile industry would run on solar and wind energy!
what a joke... its a failed story even b4 it takes off... textiles are surviving on the basis of higher global prices and not increase in order. In fact we have lost major mkt share. 60% of this money will be in pockets of politicians and establishment. no point investing in such big projects