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Sindh govt to go ahead with Pakistan Textile City
18
Oct '16
The government of Sindh province in Pakistan will go ahead with construction of Pakistan Textile City at Port Qasim. In case the federal government decides to wind up the project, the provincial government will fund the project from its own resources. The decision to this effect was taken at a meeting presided over by chief minister Syed Murad Ali Shah.

The Pakistan Textile City Ltd (PTCL) was set up in 2004 as a public-private joint venture company. Actual work, however, began in 2007 with an initial equity of Rs 1.1 billion. The Sindh government committed to share 50 per cent of the cost with federal government.

The objective of the project is to boost exports of value-added textiles and create around 80,000 jobs, Sindh industries minister Manzoor Wassan said, according to Pakistani media reports.

Sindh chief minister directed industries minister to coordinate with PTCL members and take necessary steps to start the project. (RKS)

Fibre2Fashion News Desk – India


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