Italy may set up textile machinery plant

Envoy will arrange meeting between investors of two sides to discuss matter


Our Correspondent November 29, 2020
Taurus Securities said the recovery of textile sector could be attributed to the ease in lockdowns and resumption of full opera-tions. PHOTO: FILE

FAISALABAD:

Italian Ambassador to Pakistan Andreas Ferrarese has agreed to arrange a virtual meeting between Pakistani and Italian investors to discuss the setting up of a state-of-the-art textile machinery manufacturing plant at the Allama Iqbal Special Economic Zone.

During a meeting with Faisalabad Chamber of Commerce and Industry (FCCI) President Engineer Hafiz Ihtasham Javed, the ambassador discussed ways of further enhancing trade between the two countries with special focus on Faisalabad.

The envoy agreed that Faisalabad being the hub of textile industry needed innovation and upgrading to face emerging challenges.

Ferrarese said it was imperative for Pakistan to maintain its supremacy and dominance in the textile sector, and Italy would fully support its positive endeavours in that regard.

The Italian ambassador revealed that a tailour-made building of Italian embassy had been completed, which would be formally inaugurated on December 15, 2020.

Speaking on the occasion, Engineer Ihtasham Javed said an international-level Special Economic Zone (SEZ) was being developed near the M3 Industrial City, which would be suitable for installation of textile manufacturing machinery.

Published in The Express Tribune, November 29th, 2020.

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