Gilgit-Baltistan offers vast investment options: official

ISLAMABAD: Gilgit-Baltistan offered vast investment opportunities in various sectors, including agriculture and the domestic and foreign investors should take full benefit of these opportunities, an official said.

Talking to Federation of Pakistan Chambers of Commerce and Industry (FPCCI) chairman Qurban Ali, who called on him at his office, Gilgit-Baltistan Chief Minister Muhammad Khalid Khurshid said the area was a tax-free region and; therefore, the investors can earn billions of rupees from the area.

The success of the tourism sector is linked with investment, which was not possible without the cooperation of the private sector, he said, adding that to facilitate the private sector, the government was creating an environment in which investors could invest and ensure a fair and secure return.

Keeping in view the geographical conditions of the region, the government would encourage small and medium scale investors, Khurshid said, adding that the government was taking all possible measures to provide relief to the traders and industrialists.

The Gilgit-Baltistan chief minister invited a delegation of the FPCCI to visit Gilgit-Baltistan and explore sectors for investment and to alleviate poverty of the area by creating job opportunities.

He invited the business community to work with the government of Gilgit-Baltistan for the development of the region.

During the meeting, it was also agreed to work together for the development of Gilgit-Baltistan, promotion of investment and elimination of unemployment.

The chief minister said Gilgit-Baltistan was rich in natural beauty, natural resources and also gateway of grand CPEC projects.

Ali thanked the Gilgit-Baltistan chief minister and said that the FPCCI had played its full role in the development of Pakistan, adding that he is in constant contact with the domestic and foreign investors to promote investment in Gilgit-Baltistan.

He said: “We have also apprised many foreign ambassadors, investors, government and chamber officials about the importance of Gilgit-Baltistan and encouraged them to invest there, which will soon show positive results.

Tourism was the only sector in Gilgit-Baltistan, which could be given industrial status, he said, adding that the development of three or four sectors in the region could play a role for the development of Gilgit-Baltistan.

To promote tourism in Gilgit-Baltistan, it is necessary to ensure the safety of tourist destinations, as well as provide better roads and transport facilities for access to them.

Ali said the establishment of international airports in the tourist areas of Gilgit-Baltistan and the launch of direct flights from abroad were essential for the promotion of tourism so that the tourists coming from abroad could come to this place directly from their own country.

He invited Gilgit-Baltistan Chief Minister Muhammad Khalid Khurshid to visit FPCCI, and said international investment conferences would soon be held in Islamabad and Gilgit-Baltistan.