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Chinese businessmen to invest $300 million in textile sector: PRGMEA

Muhammad Irfan 01:55 AM | 20 Sep, 2017
Chinese businessmen to invest $300 million in textile sector: PRGMEA
ISLAMABAD - Chinese businessmen would invest over $300 million in Pakistan’s textile sector through joint ventures with local companies for promotion of bilateral trade between the two countries.

Memorandum of Understanding (MoUs) have already been was signed between Chinese and local firms for enhancing the mutual cooperation and investment in Fabric, accessaries and importing modern machinery from China for modernization and value addition in textile sector, Chairman Pakistan Readymade Garments Manufacturers and Exports Association (PRGMEA) and leader of All Pakistan Textile Mills Associations (APTMA) Ijaz A. Khokar said here on Tuesday.

Chinese firms have huge opportunity in distribution and joint venture with local potential industries and individuals for increasing trade and investment cooperation between business community of both side,he said.

Leader of APTMA said that mega project of China Pakistan Economic Corridor would increase the economic and investment opportunities for the promotion of regional trade.

He said that CPEC would enhance the regional and global connectivity for connecting the local market and the developed economies.

Ijaz Khokhar said that local industries are fully prepared for grasping the trade and business opportunities after the completion of CPEC.

Replying to question,he said that Textile sector is back bone of country’s economies and recording 60 % contribution total export of the country.

He urged for government support for adopting the modern technology in process, value addition and decreasing the inputs in form of energy for growth of textile sector.

He informed that International Apparel Federation (IAF) would establish regional office in Sialkot Pakistan, which is big success for local industry. -APP

Muhammad Irfan

The writer is a staff member. He has been affiliated with Pakistan's leading English newspapers and worked as News Producer at FM 107.4. Death (as...he believes...life is a station, and death is a longest journey from seen to ...

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KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on January 28, 2023 (Saturday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 263.9 266.15
Euro EUR 275.75 278.5
UK Pound Sterling GBP 313 316
U.A.E Dirham AED 69.75 70.45
Saudi Riyal SAR 67.25 67.9
Australian Dollar AUD 178.5 180.9
Bahrain Dinar BHD 644.19 652.19
Canadian Dollar CAD 187.5 189.70
China Yuan CNY 35.71 36.11
Danish Krone DKK 35.38 35.78
Hong Kong Dollar HKD 30.94 31.29
Indian Rupee INR 2.97 3.08
Japanese Yen JPY 2.50 2.54
Kuwaiti Dinar KWD 793.10 802.15
Malaysian Ringgit MYR 57.02 57.62
New Zealand Dollar NZD 156.69 158.69
Norwegians Krone NOK 24.46 24.76
Omani Riyal OMR 629.39 637.39
Qatari Riyal ‎QAR 66.54 67.24
Singapore Dollar SGD 184.38 186.38
Swedish Korona SEK 25.31 23.81
Swiss Franc CHF 263.01 265.51
Thai Bhat THB 7.38 7.53

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs209,600 on Saturday. The price of 10 grams of 24k gold was recorded at Rs174,990.

Likewise, 10 grams of 22k gold were being traded for Rs157,300 while a single tola of 22-karat gold was being sold at Rs 178,500.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

City Gold Silver
Lahore PKR 209,600 PKR 2,220
Karachi PKR 209,600 PKR 2,220
Islamabad PKR 209,600 PKR 2,220
Peshawar PKR 209,600 PKR 2,220
Quetta PKR 209,600 PKR 2,220
Sialkot PKR 209,600 PKR 2,220
Attock PKR 209,600 PKR 2,220
Gujranwala PKR 209,600 PKR 2,220
Jehlum PKR 209,600 PKR 2,220
Multan PKR 209,600 PKR 2,220
Bahawalpur PKR 209,600 PKR 2,220
Gujrat PKR 209,600 PKR 2,220
Nawabshah PKR 209,600 PKR 2,220
Chakwal PKR 209,600 PKR 2,220
Hyderabad PKR 209,600 PKR 2,220
Nowshehra PKR 209,600 PKR 2,220
Sargodha PKR 209,600 PKR 2,220
Faisalabad PKR 209,600 PKR 2,220
Mirpur PKR 209,600 PKR 2,220

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