President Azad Jammu and Kashmir, Sardar Muhammad Yaqoob Khan has invited business community to invest and establish industrial and power generating units in Azad Kashmir.
Addressing members of Federal B Area Association of Trade and Industry (FBAATI) after laying foundation stone of FBAATI building complex and later talking to newsmen on Thursday, he said that Kashmir is the most peaceful area in the region and offers lucrative investment opportunities in power generation and tourism in particular and other areas in general.
He said that Azad Kashmir has immense potential for new investment in various fields. The president said that Kashmir has potential of generation 15,000 to 18,000MW power, which can be supplies to meet the demand of Pakistan.
He said that industry of tourism and fruit processing units could be set up and the labour will be available very cheap, as Kashmiris come all the way to Karachi to work in industries. "It will help stop migration of work force from Kashmir," he said.
The AJK President said that there was no infrastructure problem by virtue of network of roads and small hydel projects which help cover energy needs of the industries. Sardar Yaqoob said that during his meetings in Karachi with businessmen of various sectors of economy, he had a feeling that the community here was keen to establish trade ties with Kashmiri counterparts.
He was of the view that instead of looking towards foreign investors we must look towards local investors and proved them necessary facility to invest in Pakistan and Azad Kashmir. He also invited business community to visit Azad Kashmir to see and evaluate investment opportunities and make plan for investment.
He assured that AJK government is ready to provide what ever incentives to business community requires including tax holiday, free of cost land for establishing industrial units besides assuring continues power supply. The president further pointed out that Azad Kashmir produced best quality of apple and other fruits and added that a large quantity of its goes waste due to non-availability of cold storage facility.
Chairman FBAATI, Masroor Alvi expressed concern over air flight from Pakistan due to prevailing law and order condition, economic crisis, power and gas high tariff and shortage. However, he was of the view that offering free of cost land and other facilities for establishing industrial units in Azad Kashmir will definitely attract Pakistani investors. He said that the association has taken an imitative to start construction of its building complex, which will house offices and shops.
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