KARACHI, Sept 13: The Port Qasim Authority (PQA) and Pakistan Textile City on Wednesday signed a lease agreement for the land to be used for the first textile city. PQA secretary Afsar Din Talpur and Pakistan Textile City CEO Zaheer Hussain signed the document on behalf of their respective organisations. PQA Chairman Vice-Admiral M. Asad Qureshi and board of directors of Pakistan Textiles and its Chairman Dewan Faroqui along with National Bank of Pakistan President Syed Ali Raza witnessed the signing ceremony.

Nespak, a state-owned engineering consultation firm, has been awarded the contract for the development of the textile city. On completion the project will not only generate export earning of around $400 million per annum for the country but will also provide jobs to 60,000 people.

The PQA chairman speaking on the occasion assured the Pakistan Textile City of full cooperation in making the project successful.

He said several mega projects were currently being under taken by the port in order to contribute towards economic growth and job opportunities in the country.Mr Qureshi said LNG, LPG terminals, second container terminal, world trade centre, development of waterfront projects, Diamond Bar City were some of the projects being worked upon.