Foreign investment in Punjab: Chinese buying stake in Masood Textile
Masood Textile Mills is among the top exporters of cotton yarn and apparel of the country.
LAHORE:
Efforts of Punjab Chief Minister Shahbaz Sharif and the Punjab government with regard to promotion of foreign investment in the province have started yielding results. Chinese investment institution Shandong Ruyi Technology Group Company Limited has announced that it will purchase 52% controlling shares of Masood Textile Mills Limited in Pakistan. Masood Textile Mills is among the top exporters of cotton yarn and apparel of the country having leading global brands among its buyers. Punjab Board of Investment and Trade and Pak-China Bureau have played an important role with regard to investment and sale and purchase of shares between both the companies.
Published in The Express Tribune, December 9th, 2013.
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@ Ajamal
The people who sold factory will not be eating Halwa with that money! There will definitely be more activity!
China will buy everything out.Here is why;Pakistan lives in a constant fear of annexation by Hindus.But that's the last thing India will do,could have done it in 1971, but who wants more trouble?. So, Pakistan feels it necessary to give land (Gilgit), Balochistan and their companies in the heartland to bring in Chinese. Somehow the idea is, if Chinese permanently base themselves in Pakistan, they will "protect" their investment from Indian aggression. However, India is doing the opposite. Closing off the Western sector and opening up trade to the east via its North Eastern territories, into South East Asia.One can say that China will eventually colonise Pakistan in the next 20-30 years, if such is the case. Remember, Britain never fought the subcontinent,it always began as the East India company and that's exactly why India has a powerful socialist bent , as lessons were hard learned.China is taking the land route to prosperity, Pakistan-Afghanistan-Central Asia-Europe, basing it on its energy needs and export goals.India is taking the Naval route to prosperity towards the opposite direction,basing it on mutual trade, common cultural and religious history. If you dint notice, Indonesia, Malaysia, Thailand and Myanmmar are all going back to their Pagan roots,as trade with India increases more, the reflections will be more pronounced.China, will remain communist. By that time, many Pakistanis will be taken to China, to work in Coal fields and Railway lines.
This is not investment. This is buying into existing running business. We need new factories and job creation.