The proposed project of Garments Industrial Zone to be set up in Pakistan’s Punjab province has been renamed as Punjab Apparel Park.
Nodding to the proposal for name change during a high level meeting, Punjab Chief Minister Muhammad Shahbaz Sharif also gave consent for constitution of the Board of Management for managing affairs of the apparel park.
Leading industrialist Muhammad Ahsan has been appointed to serve as Chairman of the Board, having all members from private sector.
The apparel park would be established on a 1,500 acre area divided in 1,170 differently sized plots and a sum of Pk Rs. 2.5 billion has already been released for purchase of the land, the CM said.
To ensure continuous power supply to the industries in the park, initially it is proposed to set up a 25 megawatt power plant, he added.
The park would house a vocational training institute, an avant-garde water treatment plant, a modern exhibition hall, a workers’ colony and a skill development centre spanning on an area of 12 acres.
Alongside local investors, investors from Turkey, China, Middle East and Europe would also be invited to invest in garment manufacturing in the park, which is expected to provide a boost to industrialization process in the province. Also, this would help in large-scale employment generation and boost exports, Mr. Sharif said.