GB CM announces ten-year tax holiday for all investments
LAHORE: Chief Minister of Gilgit-Baltistan, Syed Mehdi Shah, has announced a ten-year tax holiday for all investments in the area that has the potential to become an investment heaven for both the local and foreign investors.
The Chief Minister was speaking at the Lahore Chamber of Commerce and Industry on Friday. LCCI President Shahzad Ali Malik, Senior Vice President Sheikh Mohammad Arshad, Vice President Sohail Azhar, Advisor to Governor GilgitBaltistan on Investment Mian Shafqat Ali, Advisor to Governor Gilgit-Baltistan on Tourism Sohail Lashari, LCCI immediate past President Zafar Iqbal Chaudhry, former Senior Vice President Tahir Javaid Malik and former Vice President Irfan Iqbal Sheikh also spoke on the occasion.
The Chief Minister GilgitBaltistan said that the present government had given a serious thought to the development of the area to alleviate the sufferings of the people that had been facing multiple problems in the last many decades.
He said an era of development had started in GilgitBaltistan with serious work on a number of projects. He said that 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 dividend.
The Chief Minister, while paying rich tributes to the Lahore Chamber of Commerce and Industry for launching an awareness campaign regarding the hidden treasures of GilgitBaltistan, urged the business community to make investment in Gilgit-Baltistan as it would be a national service.
He said that the Prime Minister had 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.
The Chief Minister GilgitBaltistan Syed Mehdi Shah promised to extend maximum cooperation to all the investors who would be making investment in Gilgit-Baltistan. He said that the electricity tariff for industrial sector offered by his government i.e. Rs 3.04 per unit was the lowest in the country.
He said that Organic Farming has a very huge potential for the investment because of the availability of a very hardworking human resource and with little crime rate in all the seven districts of GilgitBaltistan.
Speaking on the Occasion, the LCCI President Shahzad Ali Malik said that Gilgit-Baltistan sectors like hydro energy, dry food, and precious stones are the actual treasure which, if thoroughly tapped, will change the fate of this region.
He said that the Lahore Chamber of Commerce and Industry had signed 43 Memoranda of Understanding with the government of GilgitBaltistan that would pave way for future investment in that area. The LCCI President said that the investment in GilgitBaltistan would not only be beneficial to that particular area but it would also help strengthen the economy of the country. -App
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