Daily Times

Gilgit-Baltistan Chief Minister Muhammad Khalid Khurshid has urged investors to take benefit of tax free region, which is also the gateway of the China-Pakistan Economic Corridor (CPEC).

The chief minister said this while talking to the Pakistan Chambers of Commerce and Industry (FPCCI) leader Qurban Ali who called on him here at his office in Gilgit-Baltistan House, said a statement issued on Wednesday.

Both discussed a wide range of issues, including the development of industry and trade, investment, and strengthening of ties between the business community and the provincial government of GB. On this occasion, it was also agreed to work together for the development of Gilgit-Baltistan, promotion of investment and elimination of unemployment.

During the meeting, the chief minister said that Gilgit-Baltistan is a region rich in natural beauty and natural resources. He said there are vast investment opportunities in various sectors, including agriculture, adding, “Gilgit-Baltistan is a tax free region where even if you do business worth billions of rupees, you need not to pay a single rupee tax.” He said domestic and foreign investors should take full advantage of these opportunities. He added that the success of the tourism sector lies in improving it through investment, which is not possible without the cooperation of the private sector. To facilitate this, the government is creating an environment in which investors can invest and ensure a fair and secure return.

He said that keeping in view the geographical conditions of the region, the government would encourage small and medium scale investors. He said that the government is taking all possible steps to provide all kinds of relief to traders and industrialists.

Gilgit-Baltistan Muhammad Khalid Khurshid invited the entire team of FPCCI to visit Gilgit-Baltistan and asked them to come and see which sector needs more attention and promote investment and end unemployment. He invited the business community to work with the provincial government for the development of Gilgit-Baltistan.

On the occasion, Qurban Ali said that the FPCCI has always played its full role in the development of Pakistan. He said the FPCCI will convene an international investment conference on Gilgit-Baltistan (GB) in collaboration with the GB government. He said that FPCCI has been in constant touch with domestic and foreign investors to promote investment in the country including GB. He said that tourism is the only sector in Gilgit-Baltistan which can be given industrial status.