Azad Jammu & Kashmir President invites Karachi Business community to invest in the region

Azad Jammu & Kashmir President invites Karachi Business community to invest in the region

Azad Jammu & Kashmir President Sardar Mohammed Yaqoob has invited the businessmen of Karachi to visit and explore investment opportunities in AJK.

“Government of AJK offers special incentives to investors, including 15-year tax holiday, relaxed financial packages for setting up of industries,” he said while addressing the members of Karachi Chamber of Commerce & Industries (KCCI) on Saturday.

He said that industry of tourism and fruit processing units could be set up and said that the labour was 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.

“It be earthquake or any other issue, the people of Karachi have always played an important role to support Kashmiris,” he said. Referring to his views on trade ties with India, he said that it was a welcome sign to promote regional trade with neighbouring
countries and that his government has no objection over the status of MFN status to India by the Federal Cabinet.

He said that Kashmiris were peace loving people and there was no law and order problem in AJK. To a proposal of KCCI President Abrar Ahmed, the AJK president said that a Memorandum of Understanding (MoU) will also be materialised between KCCI and AJK Chamber
of Commerce and Industry during the proposed visit of KCCI delegation to Muzaffarabad.

He further suggested that the businessmen of Karachi should also consider investments in Balochistan, AJK, Khyber Pakhtunkhawa province and even Gilgit-Baltistan to ease the load on Karachi which was facing saturation with the number of industries.

Earlier, the KCCI president Abrar Ahmed in his speech said that a delegation will soon be visiting Muzaffarabad to exchange ideas for joint ventures with Kashmiri counterparts and also proposed that the AJK Chamber of Commerce may also arrange a seminar
of conference in this regard as well. 

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Posted by Naveed A Bari on Nov 28 2011. Filed under Pakistan. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry