By way of the Special Investment Facilitation Council (SIFC), two significant Chinese corporations have declared their intention to set up operations in Pakistan that will generate raw materials for the textile sector. In an effort to boost the textile industry, Rainbow Industries Limited and Shaoxing Chemical Industry are going to establish a joint venture.
Millions of dollars are anticipated to be invested in these projects, which aim to produce inexpensive raw materials for the regional textile sector. This comes at a time when Pakistan’s textile industry is dealing with issues including increased electricity tariffs that are deterring international investment.
The “Rainbow Group” and the “Punjab Dyes and Chemical Merchants Association” recently arranged a two-day show to discuss these problems and aid in the industry’s comeback.
