Good move to lure in­vest­ment

The Pak Banker - - 4editorial -

In­vest­ment in projects of busi­ness, trad­ing, ed­u­ca­tion, sci­ence and technology, agri­cul­ture, con­struc­tion can help coun­try to be­come a healthy eco­nomic power in the re­gion. Govern­ment of the Pak­istan should en­cour­age the in­vestors by an­nounc­ing the pack­ages, in­cen­tives and sub­si­dies for do­ing busi­ness. Busi­ness hur­dls must be re­moved at all stages faced by the in­vestors. It is a good move ini­ti­ated by the Chief Min­is­ter of Gil­git-Baltistan, Syed Me­hdi Shah, who 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 GB Chief Min­is­ter was speak­ing at the La­hore Cham­ber of Com­merce and In­dus­try on Fri­day. Govern­ment has taken se­ri­ous step for devel­op­ment of the area to al­le­vi­ate the suf­fer­ings of the peo­ple. Gil­git-Baltistan, apart from Tourism, Min­ing, Food preser­va­tion, has a very huge po­ten­tial for Ce­ment and Herbal sec­tors there­fore the busi­ness­men should come for­ward to ex­plore these op­por­tu­ni­ties and take ben­e­fit of tax-hol­i­day. Re­gard­ing the hid­den trea­sures of Gil­git-Baltistan, Syed Me­hdi Shah urged the busi­ness com­mu­nity to make in­vest­ment as it would be a na­tional ser­vice. Prime Min­is­ter had also given a devel­op­ment pack­age with a view to fa­cil­i­tate the in­vestors and all mea­sures were be­ing taken to turn the area an in­vest­ment hub. Now it the time for in­vestors to come for­ward to in­vest as the Chief Min­is­ter Gil­gitBaltistan Syed Me­hdi Shah has promised to ex­tend max­i­mum co­op­er­a­tion to all the in­vestors. The elec­tric­ity tar­iff for in­dus­trial sec­tor of­fered by his govern­ment only Rs 3.04 per unit is the low­est in the coun­try. Se­condly 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 Gil­git-Baltistan. With in­vest­ment in the sec­tors like hy­dro en­ergy, dry food, and pre­cious stones that are the ac­tual trea­sure, if thor­oughly tapped, it will change the fate of this re­gion. In­vest­ment in Gil­git-Baltistan would not only be ben­e­fi­cial to that par­tic­u­lar area but it would also help strengthen the econ­omy of the coun­try. Like Gil­git-Baltistan Govern­ment should also an­nounce such pack­ages in other prov­inces of the coun­try to end poverty and un­em­ploy­ment.

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