GB CM an­nounces ten-year tax hol­i­day for all in­vest­ments

The Pak Banker - - 2national -

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

KARACHI: Bri­tish High Com­mis­sioner Adam Thom­son called on Sindh Chief Min­is­ter Syed Qaim Ali Shah at CM House. -App

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