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)
ALCHEMPro News Desk – India
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