PROVINCE REPORT
Peshawar:The Bank of Khyber (BoK) has joined a consortium of leading financial institutions to finance Phase-I of the Challenge Fashions Textile Project, special economic zone (SEZ), marking Pakistan’s first Chinese textile investment under the Special Economic Zone framework.
The syndicated financing agreement for the Challenge Fashion (Pvt.) Limited project was signed during a ceremony held at the Special Investment Facilitation Council (SIFC) Secretariat in Islamabad. The initiative is expected to strengthen Pakistan’s textile industry, boost exports, generate employment opportunities, and deepen economic cooperation between Pakistan and China.
The financing consortium comprises the Bank of Khyber, Bank Islami Pakistan, Pak Libya Holding Company, The Bank of Punjab, and Pak China Investment Company.
Speaking at the ceremony, SIFC Secretary Jamil Ahmad Qureshi highlighted the strategic importance of Special Economic Zones in accelerating industrialization and economic growth. He reaffirmed SIFC’s commitment to facilitating strategic local and foreign investments across Pakistan.
The signing ceremony was witnessed by Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal, Special Assistant to the Prime Minister Haroon Akhtar Khan, and Director General SIFC, Major General Asad.
Bank of Khyber was represented by its Managing Director and Chief Executive Officer, Hassan Raza, who said the bank’s participation in the landmark financing arrangement reflects its commitment to supporting high-impact investment projects that promote industrial development, attract foreign direct investment (FDI), expand exports, and contribute to Pakistan’s sustainable economic growth.
The Challenge Fashion project will establish a state-of-the-art, export-oriented textile manufacturing facility within the SEZ, reinforcing Pakistan’s position as a competitive destination for Chinese investment while supporting the country’s broader industrial and export-led growth agenda.
