In a bid to revitalize the domestic garment industry, Punjab Industrial Estates Development and Management Company (PIEDMC) has decided to establish a ‘garment city’ in Pakistan’s Punjab province, PIEDMC Chairman SM Tanveer said during a meeting with garment industry representatives.
The new garment city would be developed in lines with the vision of Punjab Chief Minister Muhammad Shahbaz Sharif, who aims to develop the province of Punjab as an industrial hub of Pakistan.
To be set up on an area of around 400-500 acres near Lahore, the garment city would be equipped with state-of-the-art infrastructure, Mr. Tanveer said. He added that PIEDMC is finalizing agreements with the Federal Government to earn a Special Economic Zone status for the said garment city.
The new industrial estate for the garment sector would work to boost the competitiveness of the industry, accelerate the production process to enhance productivity and foreign exchange generation from exports, he said.
Earlier this month, Punjab government even inked a memorandum of understanding (MoU) with China National Textile and Apparel Council (CNTAC) for establishing a special garment zone in the province, for promotion of cooperation in textile, garments and knitting industry.
As per the MoU, the Chinese investors will invest in the Punjab-China Garments Industrial Zone, where garment and knitting units would be set up, while PIEDMC and China Knitting Industry Association would extend cooperation for promotion of garments and knitting sector.
PIEDMC was established in 2003 by Punjab government in pursuance of its industrial vision, and has representation from both private and public sectors.