The 56th Board of Directors' meeting of Pakistan Textile City Limited project was held in Karachi, chaired by Chairman Dr Mirza Ikhtiar Baig. The meeting was also attended by Rukhsana Shah, Secretary Textile Industry, Wajahat A Baqai, National Bank, Sheikh Aftab Ahmad, Saudi Pak Industrial & Agriculture Investment, Shabir Anwar Kazi, Port Qasim Authority and their CEO Muhammad Hanif Kasbati.
The board reviewed the progress of the project with regard to required infrastructure and availability of the utilities for the project. The board has approved launching of the project by the end of September 2014. Management has been advised to conduct the road shows and approach the potential investors of the textile sector for the sale of the plots of the project.
Keeping in view the great demand of the land for the coal power generation, due to strategic location of the plot adjacent costal sea belt, the board approved the amendment of memorandum and articles of the company to include the energy related projects including power generation by coal in the areas reserved for utilities. The BoDs appreciated the efforts of the Chairman Dr Mirza Ikhtiar Baig to remove the hurdles of this project of vital national interest which will provide about 80,000 jobs in Karachi and would also generate substantial exports and revenue generation for the national exchequer.-PR
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