Foreign investors have shown interest in the proposed garment city to be set up near Karachi, most probably in Port Qasim industrial area.
This was stated by the Chairman Garment City Steering Committee of Textile Associations, Tahir Aziz here on Thursday.
He said the city, to be developed from funding from the Export Development Fund (EDF).
He said the members of the committee would survey two to three possible sites for the garment city on Sunday to select a suitable one.
Initially, the proposed Garment City would have 200 factories on one acre and two acre of land. It would have in-house power generation facility to provide cheaper energy to the garment exporters to reduce their cost of production to make them competitive in the export market.
The city would be managed by a joint stock company for which article of association is being framed.
Important decisions were taken at the third meeting of the Steering Committee, which was chaired by former Central Chairman of Pakistan Readymade Garments Manufacturers and Exporters Association (Prgmea) Tahir Aziz.
It was attended by Masood Naqi, Aftab Karimji, Khawaja Usman, Aslam Karsaz, and Rasheed Soorti.
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