$5 billion credit line from China

$5 billion credit line from China

LAHORE - The textile industry of Pakistan is seeking Prime Minister Imran Khan’s assistance to persuade China’s in his forthcoming visit to establish a special credit line of $5 billion for new investments and joint ventures between manufacturers of both countries.

According to a report in *Dawn,* the All Pakistan Textile Mills Association (Aptma) in a recent paper sent to the textile ministry, the stakeholders said the facility should be provided by China under the pay-as-you-earn scheme on the buying-back basis to stimulate investment in exports from Pakistan.

Aptma Punjab official Anisul Haq said on Wednesday this proposal was put forth for enhancing industrial and investment cooperation with China as CPEC enters the next stage.

The paper prepared by Aptma says the special credit line would provide assistance in an early relocation of Chinese textile industry to Pakistan and increase our exports there.