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China ardent to alter Pak textile into economy of scale

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China to alter Pakistani Textile
China to alter Pakistani Textile

A Six-member delegation from China’s Hi-Tech Group, a state owned company dealing in textile and energy generation machinery, visited the FPCCI on 19th of September. The delegation had sector specific detailed discussion with their counter-parts on, how to upgrade Pakistan’s textile industry especially the spinning mills.

About 80% of yarn and other textile products will be re-exported to China for value-addition to sell the finished good at better prices in international market, Pakistani businessmen were informed. Led by Executive Director of the Group, Shaohul Zhang, the Chinese delegation is on 5-day visit to Pakistan from September 17. On Wednesday, 20th of September, the delegation will fly to Lahore for business sessions with the textile industry people.

The acting President, Federation of Pakistan Chambers of Commerce and Industry, Manzoor-ul-Haq Malik and senior leader of FPCCI and a leading textile industrialist and exporter Dr. Mirza Ikhtiar Baig along with other senior businessmen welcomed the Chinese team at the Federation House. Mr. Malik and Dr. Baig led the FPCCI team.

Chinese were keen to enter joint ventures for modernization and up-gradation of Pakistan’s spinning mills to make these cost efficient and competitive, Mr Zhang said. They wanted to start with installing one million spindles at least at one spinning mill, which was the lowest benchmark for a spinning mill in China.

Head of the Chinese delegation informed that China wanted to relocate its textile units to Pakistan to benefit from Pakistan’s low paid and well-experienced textile labor. “We can contribute in power supply at very favorable price. There can be very good partnership in spinning mills and power plants owners,” he remarked adding that give us land, we will bring textile machinery here. He claimed that China’s textile machinery was more suitable for Pakistan against that of Germany and Switzerland.

FPCCI Acting President Manzoor-ul-Haq Malik and Dr. Mirza Ikhtiar Baig assured the Chinese delegates they would pursue their initiatives with the textile related FPCCI members in the country. “We will work together on this program,” Malik remarked. Dr. Baig recalled that China’s Hi-Tech Group had supplying machinery to Pakistan’s textile sector for the last 25 years.