Sindh CM vows to save Pakistan Textile City Company

03 Mar '18

2 min read

Murad Ali Shah, chief minister (CM) of Sindh in Pakistan, recently told a national assembly standing committee on commerce and textile delegation that a conspiracy has been hatched to destroy the Pakistan Textile City Company (PTCC) at Port Qasim so that its industry shifts somewhere else. Winding up PTCC will harm the province’s interests, he said.

The standing committee had recommended revival of PTCC on January 4 this year and reiterated its stance in this meeting, according to Pakistani media reports.

The provincial government, which owns 16 per cent share in PTCC, will support the company’s revival to generate employment, Shah said.
The federal government took an unrealistic decision of liquidating the company and selling company land that it did not own, he said.

The chief minister directed the Sindh chief secretary to write a letter to Chairman Winding-Up Committee Barrister Zafrullah Khan in order to apprise him about the decision of the provincial government.

He said the Sindh government would extend full financial support to PTCC in case of a proposed change in the financial and capital structure of the company.

The PTCC was provided land covering 1250 acres by the Sindh government in the form of shares. (DS)

Fibre2Fashion News Desk – India

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