ISLAMABAD (APP) – Gilgit-Baltistan has great potential for investment in different sectors: mining, minerals, gems, tourism, water & power, hoteling and hospitality.
Huge investment opportunities also exist in agriculture and medicinal herbs sectors. Climate and abundant water resources make it ideally suitable for marvellous growth of both these sectors. Private sector has the ability to write new success stories in Gilgit Baltistan, where immense potential is yet to be exploited.
Prospects for foreign investment are equally high and the investors could launch ventures in different alluring sectors. Meanwhile, Indonesia has expressed desire to extend maximum cooperation to Gilgit-Baltistan government in its efforts aimed at bringing progress and prosperity in the area. The Indonesian government is keen to help Gilgit-Baltistan government in exploration of coal and mining. Indonesia has the expertise in these areas and the sharing of technical skills could create a win-win situation. Agriculture is one of the potential areas for investment in the shape of production, preservation.
and marketing of quality fruits and vegetable seeds.
Gilgit-Baltistan has no match in the world and only because of little value-addition facilities these sectors could not grow.
Organic Farming has a very huge potential for the investment because of the availability of a very hardworking human resource. Hydro energy, dry food, and precious stones are the actual treasures, which if thoroughly tapped, will change the fate of Gilgit Baltistan and its natives as well.
Gilgit Baltistan has all opportunities to become an investment hub and the present government is evolving new policies to facilitate both the local and foreign investments.
Unlike the past, the present government had given a serious concentration to the power generation, infrastructure development, education and health to alleviate the sufferings of the people that had been facing multiple problems for the last many decades.
An era of development had been started in Gilgit-Baltistan with serious work on Basha Dam, detailed engineering of Monji Dam and in the shape of expansion of Karakorum Highway.
Apart from tourism, mining, food preservation, the area has a very huge potential for cement and herbal sectors therefore the business community should come forward to explore these opportunities that offer a huge revenues.
The present government has given a development package to the area with a view to facilitate the investors and all measures were being taken to turn the area an investment hub.
South Korean investors are interested in power generation and this investment could overcome the shortfall of 80MW of the region. Developing of roads and infrastructure in Gilgit-Baltistan are also on cards as investors are keen to invest in construction of all weather airports in Gilgit and Skardu.
Investment in Gilgit-Baltistan would not only be beneficial to that particular area but it would also help strengthen the economy of the country.
Board of Investment is working for evolving a tax free policy for investors very soon.