Related Keywords: Chinese firms, investment, Pakistan textile and garment
Chinese firms are eyeing Pakistan textile and garment sectors as a competitive destination for foreign investment after Pakistan getting the EU's GSP+ scheme status.
Masood Textile, Pakistan's one of the few vertically integrated textile plants with in-house yarn, fabric, processing, printing and knitted apparel manufacturing facilities with the company earning PKR906m (US$8.6m) profit after tax in the fiscal year 2012-13 (July-June). Their majority stake was acquired by Shandong Ruyi Technology Group of China last month at an estimated cost of US$25m.
