Pakistani, Chinese officials review $200m Lahore SEZ project

Pakistani and Chinese officials visited a $200 million Special Economic Zone (SEZ) project in Lahore, highlighting expectations of increased employment, export growth, and fresh foreign investment. Pakistan’s Ambassador to China Khalil Hashmi, along with Punjab Industries and Commerce Minister Chaudhry Shafay Hussain, accompanied Chinese investors during a visit to the under-construction Challenge Special Economic Zone to inspect ongoing development activities. Speaking on the occasion, Chaudhry Shafay Hussain said the first phase of the project, supported by $200 million in Chinese investment, is likely to be completed next year and is expected to create around 8,000 jobs. He further stated that the government is providing maximum facilitation to Chinese investors to encourage greater participation in Pakistan’s industrial and economic sectors. He also disclosed that a Chinese mobile phone manufacturing company is planning to set up a production facility in the country. Business leader Qamar Khan Bobby said textile exports from the SEZ are projected to begin next year, adding that within two years the zone could generate up to $300 million in value-added exports while employing nearly 10,000 people. During the visit, a Memorandum of Understanding (MoU) was signed between a Chinese investment firm and the Punjab government. The agreement was signed by Madam Liu, Director of the Chinese company, and Chaudhry Shafay Hussain. The ceremony was attended by Challenge Group Chairman Hong, Managing Director Karen Chen, Industries Secretary Omar Masood, Punjab Board of Investment DG Dr Sohail Ahmed, and LESCO Chief Engineer Muhammad Ramzan Butt. Pakistan raises petrol, diesel prices by nearly Rs15 per litre